$BTC

On the four-hour time frame level, the Bollinger Bands continue to open upward, and the overall market maintains the same uptrend channel pattern. After the market surged to the 794 level earlier, it entered a stage of pullback and corrective repair; currently, Bitcoin’s price is trading within the upper-middle band range of the Bollinger Bands. On the smaller time frames, upward momentum from long positions is gradually fading, and the subsequent upward momentum appears somewhat weak.
As for the indicator panel, the MACD double lines are oscillating and consolidating at high levels, and are about to form a death cross structure; the KDJ three lines diverge downward in sync. Short-term bearish momentum continues to be released, and there is a trend that the market may further retreat and weaken.
Trading suggestion: go short in the 79,000 area, target the 76,000 area to the downside, and the stop-loss level can be set according to your own position size.