BTC below 86,500 after the bullish divergence in wave 3D has been rising all the way up, providing many signals for friends planning mid-term spot positions. This divergence has already been partially digested, and the next move may be a retest of the 102,000 area. However, before confirmation, this retest could serve as a bearish signal—also the only macro perspective worth paying attention to.

In the recent market, BTC's daily chart did not show a bearish divergence, which is a short-term positive, as the rally has already been significant. But the problem is—major market indicators like Total, Total2, USDT.D on their daily charts have instead formed divergences. Plus, USDTD/USDCD and other technical indicators also show similar situations. This reminds us that although indicator divergences are less significant than BTC's own divergences, they should not be completely ignored before they are broken, especially since BTC is still operating at a high level within this possible parallel channel.

Therefore, opening new long positions would be more prudent after a pullback. Structurally, these indicator divergences are forming near resistance zones, so exercising caution is never wrong.