After several days of consolidation and fluctuation, Bitcoin finally achieved a significant bullish candle yesterday, breaking through what we refer to as the previous range of 96,000.

It also surged to the 97,500 level. Currently, there are signs of a double top forming at this daily level, but it has not completely broken down.

However, one important point is that tonight is the release of May's non-farm payroll data, so the data tonight is quite significant. From the current situation, the daily MACD shows signs of a top divergence, indicating a risk of a price pullback in the short term, which we need to pay attention to. The currently strong support level is at 96,000.

This means that the previous breakdown was also a necessary point for the formation of the double top. If the 96,000 level breaks down and the closing price falls below this level, there is a possibility that the price could further retreat to previous levels of 94,000 and 93,000, which we need to focus on. Additionally, we should still monitor the support situation at the 91,500 level.

This is the short-term situation for Bitcoin. From the hourly chart, the short-term momentum is clearly insufficient, so we also need to be prepared for risk management. On the other hand, if you are more aggressive, from the perspective of the trend line, it has not completely broken below this trend line. Personally, I believe that as long as it has not broken below the trend line, we can still consider buying on dips around the trend line.

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