Bitcoin makes two attempts to break through 79.5k and pulls back, is this the top?

Currently, there are no signs of a top; the short-term pressure and pullback may continue downward, focusing on the 75k level.

On Monday, it was mentioned that breaking below 77k would lead to continued testing of the 75k-76k range. Overall, the market remains in a stagflationary pressure state.

Why is there a pullback expected at the end of this week???

Recently, issues between Iran and the U.S. have eased, but no substantial resolution has been reached, which provides some support for Bitcoin, yet it remains the most concerning factor.

After all, this wave of testing 80k repeatedly was driven by institutional inflows, but the strength was limited; otherwise, it would have directly broken through 80k.

This week, the Federal Reserve's interest rate decision and Powell's speech are upcoming. Rate cuts are unlikely, with the focus on Powell's speech. Whether he steps down or stays on remains a key concern for the market. However, I believe a hawkish signal will be sent.

Following that, the seven major U.S. tech giants will report earnings. Recently, the NASDAQ has hit new highs, and the earnings reports may also cause market volatility.

Finally, economic data will be released one after another, and with the monthly close approaching, the current volatility is brewing a big rally. However, I lean more toward a pressure-driven pullback, with the possibility of testing the 75,000 level below. $BTC #加密市场小幅下跌