$BTC About the trend in the later period:

1. BTC did not pull back in the first rising channel 58900-63461, and according to the logic of the top pattern, the top state did not appear.

2. Therefore, it continued to move in the second rising channel 62020-66533. At 66533, the 4-hour K-line has already shown a standard top pattern. There should be no big problem if this wave pulls back to 64500.

Now it is whether to continue to impact 70000 after the later pullback or to pull back to the pullback position of the large range (58900-66533), which is between 62600-60829.

Conclusion: There is no big problem in opening a short position now. Take half of the profit at 64500, and open the closing line to 65000 after taking the profit. If it continues to fall below 63000, we can regard it as a large range downward adjustment and continue to hold the short position. If it turns around and does not fall below 63000, it means that BTC will continue to hit new heights. The next wave height is 71000.

If this wave of callback does not reach 64500, the trend will become a bullish trend and exceed the previous high of 66830 to stand firm. We can also directly look at 71000.