The 15-minute candlestick chart for this round of Bitcoin topping has already formed a long upper shadow. This is a typical release signal of heavy sell pressure at high levels, indicating that at high prices the bulls no longer have the strength to absorb the sell orders; the price spikes up and then falls back, forming the early stages of top-formations such as an Evening Star and a Shooting Star.

The rise from 74777 to 79142 had no single long bullish candlestick body to confirm bullish momentum. Instead, during the topping phase, there appeared consecutive small bullish candles and upper shadows, which is a direct sign of bullish momentum exhaustion.

When you also look at the volume-price divergence, this high-level pattern of shrinking volume while surging upward has, in history, almost always corresponded to a rapid reversal and decline. Every upper shadow is currently a warning bell being rung for those chasing longs—it's just that many people are misled by the apparent upward trend and can't hear it.

Trading Suggestions

Short Bitcoin around 79000, with targets below at 78000-77000; if it breaks down and continues, further look for 76000.
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