When many investors' attention is focused on Bitcoin's historical peak of $74,000, and even expect it to break the $100,000 barrier, is there anyone like Wu Chan who foresaw the impending market correction? On the 4-hour chart, the phenomenon of divergence at the top has persisted for some time, and technical indicators such as KDJ and MACD have long released bearish signals, indicating an overbought state in the market. Recently, the bullish strength has noticeably seemed a bit weak.

Wu Chan's view is that the market needs to undergo a correction before further rising, in order to adjust the technical indicators and lay the foundation for future trends. This technical adjustment is necessary and will prepare the market for subsequent movements. In the current overbought state, the market needs a breather to re-gather strength and establish a solid foundation for the next round of increases. Therefore, while investors anticipate new highs, they should also be wary of potential correction risks and make corresponding investment decisions.