Analysis: Technical indicators suggest that Bitcoin may further pull back to $38,000.

According to BlockBeats news on January 15th, Bitcoin (BTC) has fallen over 5% to $42,600 since the debut of the US spot ETF last Thursday, exhibiting typical "sell-the-fact" price behavior, as reported by CoinDesk. Short-term selling trends may continue, according to 10x Research's analysis of Bitcoin price patterns and technical indicators. Markus Thielen, leader of 10x Research, stated in a client note on Monday that "Bitcoin's RSI divergence signal indicates a correction" and added that the pullback may stop near the dynamic support level of $38,000. When the price reaches a new extreme and momentum indicators such as the Relative Strength Index (RSI) fail to do so, a bearish divergence occurs, suggesting upward fatigue. Last week, BTC reached a two-year high of over $49,000, but the 14-day RSI failed to confirm it. The subsequent price decline confirmed the bearish divergence. In addition, the MACD histogram used to measure trend strength and changes has fallen below zero, signaling a bearish momentum shift.