Recently, the price of Bitcoin has successfully broken through historical highs, and after a brief surge, it has entered a correction period. It is currently in a consolidation range, with intense competition between bulls and bears, and the battle for the upper pressure level and lower support level has reached a fever pitch.
From a technical perspective, the daily chart clearly shows a bearish divergence signal. A bearish divergence means that while the price is reaching new highs, the corresponding technical indicators have not been able to rise in tandem, which is often a strong signal that a trend is about to reverse, indicating a high probability of a significant correction.
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