Today, we will discuss the current market situation of Bitcoin. From the weekly MACD indicator, the situation of a top divergence still exists. However, it is worth noting that the appearance of a top divergence does not mean that the market will immediately experience a big dump. In fact, the continuous rebound of Bitcoin over the past two weeks has just confirmed this.

Nevertheless, from a long-term perspective, the divergence of the weekly MACD does suggest that the bullish trend of Bitcoin in this cycle may start to weaken. Based on this, the market this week may exhibit a pattern of rising first and then falling, possibly creating a candlestick with a long upper shadow.

Before the Federal Reserve cuts interest rates, Bitcoin prices may continue to rise, potentially reaching the vicinity of $120,000. However, once the interest rate cut policy is implemented, the market is likely to experience a rebound, ultimately forming a long shadow on the weekly chart.

In the short term, the price of Bitcoin is currently in a state of fluctuation, having recently tested the price level of around 114,700 USD again, but no significant drop has occurred. It is worth noting that the overall trading volume is currently low, and market trading activity is not very high. This fluctuating market condition may last for a while.

For short-term traders, it may be worth considering buying when the price is close to 115000 USD, around 1142 USD. The upper target can focus on the range of 1158 to 1160 USD, which is equivalent to a price of around 1168 USD.

However, we must always remember that the cryptocurrency market carries high risks. The above analysis is for reference only and should not be considered as investment advice. Every investor should conduct independent research and analysis, and be responsible for their own trading decisions. In this rapidly changing market, maintaining a clear mind and a cautious attitude is crucial.