Recently, the price of Bitcoin has been adjusting between 29500-31000, but after another high point of 31800 was quickly defeated, a MACD top divergence pattern appeared in 4 grids, and the main consolidation area can be observed. In the past two days, the middle track position (about 30500) has become a new resistance level, and the price has been supported below 30000.
On the daily chart, we can also see that the high point in April was roughly around 30,000. This time the rise has increased a bit, but it is still basically in this area, and there is also a MACD top divergence pattern.
Since the bottom was formed, the highs of this rise have increased significantly (25,000, 30,000), and finally pulled back 50% (20,000, 25,000). However, the yellow highs have not increased significantly this time, increasing the possibility of a pullback. If the price is pulled back by 50%, it may pull back to around 28,000, but since no new highs have been formed, the pullback may be larger, as shown in the red (MA200 support level) and (25,000 position) areas in the figure.
