During the callback at $BTC , do not aggressively chase the rise at high positions!

After Bitcoin has had seven consecutive days of gains, the weekly K chart broke through the high of 112,000, and has been under pressure at the upper track for two consecutive weeks, forming a long upper shadow and a cross star candle last week. The KDJ lines are about to converge and form a death cross. This week, do not overly bullish; instead, watch for breakthroughs at new highs. Everyone should be cautious when chasing the rise at high positions to guard against a large correction!

The daily K chart has been under pressure at the middle track for over ten days without breaking through. In terms of operations, this can be used as a defensive point for short positions. On Friday, it closed with a medium bullish candle, on Saturday with a small bullish candle, and the weekend closed with a bullish cross star. Looking at the daily K chart, this also reflects that the bulls are somewhat willing but lack the strength, so be cautious when chasing the rise, and focus on whether this pullback will break below the 100,000 mark.

In the short term, the 4-hour level has performed a deep V reversal after pulling back to 100,300, and is currently under pressure at the upper line of 106,500. For intraday operations, focus on short positions; the current price of 105,600 can be shorted directly, and if there is a rebound to 106,600, add to the short position once. The target can be set at 104,500, then 103,500, and look down towards 102,000.