Bitcoin has been fluctuating and consolidating at a high level for several days. The decline from 31XXX to 269XX on the left side is a clear driving wave structure. I will not elaborate on the theory of destiny.
If the theory is established or not reversed, it is inevitable that it will fall below 269XX again.
But there are indeed signs of manipulation in the Bitcoin market, and they are very obvious.
My personal opinion is that I think this is the top but I am not so sure. Even if it breaks through 31,000 US dollars again, without violent pull-ups, it will still be a daily divergence situation and I feel it will not go far.
Let's talk about the indicators: Bitcoin MACD 4-hour death cross continues downward. The daily MACD shows signs of taking the lead upward.
The 1-hour OBV indicator is diverging, but the 4-hour OBV is okay.
The hourly level looks like a triangle oscillation
Technical indicators cannot determine the direction. Theoretically, I have been in my period in recent days.
In terms of operation, the short position has been waiting for stop loss or profit, and the current status is a slight floating loss.
Do your best and leave the rest to fate. Cut your losses and start again.
At the same time, I wish you all a happy holiday, less trading, less watching of the market, and more time with your family.
