Looking at the btc daily chart, yesterday's price action formed a long wick candle and closed with a bearish hammer. The short-term trend has given a signal for a fall, and the current round of rise did not break through the previous high point at 123300. The resistance level for this rebound is 120850, which was pierced but closed as a long wick candle. This kind of movement can be seen as effective resistance. In the four-hour structure at the moment, the price has fallen to the support level of the middle band of the Bollinger Bands, where it has stopped falling and is moving sideways. However, from the volume chart, it can be seen that there has not been significant higher trade volumes from the long positions, and the MAAD indicator has shown a death cross at a high level. Moreover, this round of pullback has provided a signal of top divergence, indicating that the pullback is clearly not over. During the day, it is advisable to layout shorts again around the high point.