$BTC
Weekly K: Entering sideways consolidation, false breakouts are the most obvious risk, bullish momentum is exhausted. There are three possible scenarios that will affect the short-term trend, and they will have significant amplitude.
① Weekly K reversal will be a cash machine for bears and a nightmare for bulls.
② Entering sideways consolidation in the weekly K, the next cycle will show a clear downtrend, and subsequent cycles will repeatedly exhibit a pattern of down, sideways, and down.
③ Continuing to rise, then there will be an upward reversal in subsequent cycles, it is necessary to follow up with long positions. Note that risks still exist, and they are significant.
Daily K: A pullback in an uptrend, which has not yet ended, with a probability of reaching around 99,000.
Currently, pay attention to the position of the fourth wave during the rebound, which is between 104,800 and 106,300, the center of the fourth wave's consolidation.
Additionally: The weekly MACD green hollow has turned into a solid green, which is a significant risk. Once the weekly line forms a death cross, it confirms a top divergence on the weekly chart. After breaking through 109,580 on the daily line and then falling back, this has already been a false breakout!!!
Be cautious, wishing you a safe Dragon Boat Festival 💞
