The weekly line is a small positive line in the shape of a cross star with a long upper shadow and a short lower shadow. We said when we closed the weekly line last week that there would be a smooth rise this week, and then it would fall back. At present, the trend is moving as predicted before.
The weekly MA30 line is still in an upward trend, so the weekly rise has not yet ended. After the price broke through the MA30 line, it closed on the line, so the MA30 line will form a short-term support, and the price is around 90174.
The weekly MACD has returned to the zero axis from a high level, showing a weakening downward momentum. The fast and slow lines will form a golden cross near the zero axis. If the week closes with a positive line, a golden cross will form.
There will be a small decline and retracement on the daily line this week. Retracements are opportunities to get on board. Prices will not only rise but not fall. A cycle of rises and falls is the healthiest. Only when interest rates are lowered will a large amount of funds flow in, and that is when the main upward trend will begin.
The daily line is a small negative line with an upper shadow line. The trading volume is basically the same as the previous day, which is within the normal trading volume range. The liquidity is relatively poor on weekends, so it is relatively easier for prices to rise and fall.
The daily MA30 line is still in an upward trend, and the MACD shows a weakening upward momentum not far above the zero axis, and the fast and slow lines are about to cross.
We said yesterday that this wave of rise was driven by the momentum at the 4-hour level. The momentum at the 4-hour level has decayed significantly and is not enough to support the continued rise in prices. Therefore, the price must fall back to the next level, that is, the support level at the 8-hour level, and then continue to rebound and rise. The support level at the 8-hour level is around 92640 (the price is moving, the line will also change). At this point, you can boldly make a long order and make a lot of money.
Therefore, there will be another wave of downward adjustments at the hourly level, and the daily level will consolidate and fluctuate at a high level for a period of time. The volatility will become larger, and contract players need to pay attention.
Daily level pressure level 96860-99700-102044, support level 92640-90170-88650
From the Bitcoin liquidation heat map data, we can see that a large number of long and short orders are accumulating, the market is still dominated by contracts, and price increases and decreases are all harvesting contract liquidity.
The price is rising, and there are still a lot of large and super large short orders waiting to be liquidated in the 95850-100550 area.
The price is falling, and there are still a lot of large and super large long orders waiting to be liquidated in the 94050-91500 area.
