Labor Day holiday market liquidity is extremely scarce. Funds participation inside the market is sluggish, and there simply isn’t enough capital to support Bitcoin’s continued one-way explosive rally.

Off-market incremental capital has been slow to enter, and everything relies on the market’s existing funds tugging back and forth to defend the price. This kind of market can’t go far and can’t rise high. Bitcoin is lifting and defending on its own at high levels; Ethereum and other mainstream coins are not moving in sync to follow the breakout, and the bullish structure has already shown cracks.

On the 4-hour timeframe, the double-top divergence pattern has been fully established. The price has been under long-term pressure, riding along the upper Bollinger Band; after multiple attempts to set new highs, everything quickly retreated, forming long upper wicks and closing with them extended.

In the short term, moving averages gradually flatten and turn, bullish momentum continues to drain, and trading volume keeps shrinking with persistent dullness. Any rise without volume is just a false increase, with no follow-through or continuation.

Strategy

Plan shorts in the BTC 78,000-79,000 range, looking down at 77,000-76,000. If 77,000-76,000 breaks, continue watching 75,000. The defense is based on your own position size.
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