6.14 Bull Draft Intraday Analysis

From the 4-hour cycle perspective of the market, Bull Draft is currently in a high-level consolidation phase after a trend-driven upward move. The price is riding on the moving averages and keeps lifting, but it is clearly stalling near the 647 prior high, showing the early signs of a high-level “volume-price divergence.”

Technically, in the MACD indicator, although the DIF is still running above the DEA, the red bars continue to shrink, indicating that bullish momentum is significantly weakening. On the 4-hour timeframe, there is a need to repair a top divergence. The candlesticks repeatedly form upper wicks at high levels, suggesting that sell pressure from above is gradually releasing, and the short-term bulls’ willingness to push higher has already noticeably weakened.

In terms of trading, focus on shorting at high levels as the primary approach, with going long on pullbacks as a secondary approach. You may place short orders around the 647 level on a retracement, with the first target at 635#Marvell大涨超11%领涨芯片板块 $BTC $ETH