BTCUSD - Possible Short Term Pullback Expected

Welcome to another crypto edition of our technical analysis. My name is Jordan, and today we're going to talk about Bitcoin. Now, we can argue about whether technical analysis works on cryptocurrencies at that moment while these markets are still super young, right? Extremely volatile, etc., etc. Excuse me, but this one is happening pretty much on the higher time frames, and. I thought I might mention it for those of you trading it, right? Not, not investing, not buying and holding, but trading. So look what we have here, guys. This structure to the upside, clearly we were gaining momentum up until the point where we are getting the first false break here, right? And we're getting a massive divergence on daily chart. Next, we can drop to the lower time frames, H4 or H1, and on this part what we're going to notice is that the price actually created a bearish structure. So in other words, the lack of divergence here is suggesting that we might be looking at one more push lower. I'm not saying the price is going to drop to $20K or $30K or something. I'm just talking about short-term intraday possible opportunity when it comes to Bitcoin. Of course, one thing to, uh, pay attention to is a potential impulsive structure in the opposite direction, which would be a warning sign. And levels— in terms of levels I'll be paying attention to this zone. Let's actually extend it a bit, which we're more or less testing at the moment. This breakout point, which was not tested yet, but this is slightly, um, slightly above the, the one that we already marked, which means if we can mark second zone on the web, it would be somewhere around here. So pretty much these 2 levels, and they are kind of covering 60-70% of the whole area of this pullback here, right? Or what I'm expecting to be a pullback. But to make it a bit more simple, as long as this high holds, um, possible sell opportunity short term might be happening here. And again, the most important part in this specific case where everyone is extremely bullish is to remember the structures. If we have a very, very decent structure, we might be going and attacking it. Plus, it's super important to see how the price is going to develop on the way up here. Are we going to see, uh, impulsive moves? Are we going to see zigzagging moves? Are we going to confirm this with divergences, other indicators, or other methods that you might have All these things, once we put it together, we might be getting an interesting setup for the upcoming few hours or days. All right, that would be all. So if you have any questions, let us know and we'll be happy to reply. Thank you.