BTC Shows Local Top Signal
Although Bitcoin further increased yesterday after my risk warning the day before, it is already at the end of its strength, and there are now obvious local top signals:
1. The 4-hour RSI has shown two consecutive instances of bearish divergence, which is a clear overbought signal;
2. ETFs with strong indicative comparisons like FBTC, ARKB, BITB have ended five consecutive trading days of net inflows and have turned into large net outflows, indicating that the ETF has shifted from buying to selling;
There are two possible scenarios for Bitcoin's movement:
Scenario 1: The third wave of the fifth major wave has completed, and the fourth wave has started, followed by a pullback to STH RP;
Scenario 2: The third wave of the fifth major wave has not yet completed, followed by a pullback to MA30, and then continue to rise.
Currently, it is difficult to say which possibility is greater, mainly depending on whether Bitcoin will effectively break below MA30.
Current price corresponding to MA30: 98400, price corresponding to STH RP: 84000
