The daily line shows a small bullish candle with an upper shadow, and the trading volume is only two-thirds of the previous day, still maintaining normal trading volume.
Yesterday we mentioned that the upward target is to break through 96000, which would push towards 97000. The actual price rose to around 97895 but faced resistance, leading to a downward retracement at the hourly level. Currently, the upward momentum is continuously weakening and needs adjustment. Today is Saturday, and weekend liquidity may be relatively poor, so the price will likely maintain high-level fluctuations over the next two days.
In terms of overall market sentiment, the vast majority believe Bitcoin is due for a sharp decline, and the number of short positions remains large. The daily Bitcoin price trend clearly shows high-level consolidation followed by a breakout with a large bullish candle, then continued consolidation at high levels, and further breakouts towards new highs.
Therefore, operationally, do not short, and for long positions at lower levels, still reduce positions on rallies, considering shorting as it approaches the 100000 level based on the situation.
Daily resistance levels are 99700-102044, and support levels are 94765-91680-88950.
The liquidation heatmap of Bitcoin shows that
the price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 97900-100500 area.
the price is falling, with a large number of large and extra-large long positions waiting for liquidation in the 96250-92200 area.
