Recently, Bitcoin has been continuously rising and is now stuck in a high-level consolidation. The market focus is on the 97,000 level, where bulls and bears are competing. However, the selling pressure around 97,500 is quite obvious and a bit intimidating.

Looking at the four-hour chart, although the MACD is still in a bullish arrangement, the histogram is shrinking, which indicates that the short-term upward momentum is weakening and a technical pullback should be watched for. The Bollinger Bands are widening significantly, with the upper resistance line around 97,800 holding firm, and the lower support line at 94,500, which coincides with the previous bottom.

In this pattern, it may be prudent to consider a short-term pullback trading strategy at high levels. It is recommended to look for short positions in the 96,800 to 97,400 range, with the first target at 95,500, and if the downward move continues, then 94,500.