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$BTC Currently looking at BTC, the price is around 74,330 USDT. Do you think it will continue to grind higher, or is it about time for a pullback?
If I were to give a conclusion first, I would lean more towards: it looks like a high-level divergence, not suitable for further long chasing.
Here's my main perspective:
First, the continuation after a surge is generally weak, and chasing longs easily ends up in an awkward position.
Second, this rally seems more like an emotional lift, and the follow-through hasn't caught up yet.
To add one more point, a waterfall pattern should quickly make new lows; if it doesn't fall fast, it's not a strong waterfall.
Suggested entry price: 74,925 USDT
Keep an eye on this take-profit level: 70,465 USDT
The level where you should exit if wrong: 76,709 USDT
But the biggest risk at this level is a sharp drop followed by an immediate rebound.
If you were trading this, would you first go long and watch a bit longer, or just avoid it altogether?