The weekly line is a positive line with a relatively long body, and the trading volume is about a quarter more than the previous week, continuing to maintain a relatively healthy trading volume.
The weekly MA30 line still maintains an upward trend, and the price closed above the weekly MA30 line. After MACD returned to the zero axis from the high point above the zero axis, the fast and slow lines showed a golden cross pattern.
We said at the end of February and the beginning of March that Bitcoin would go through a 4-8 week adjustment trend. Now the weekly adjustment has ended and a 4-8 week rebound will begin. This period of time will push the price of Bitcoin to break through $110,000.
Above $110,000, there will be certain pressure points at every integer position. The real main upward wave will only appear after the United States cuts interest rates and a large amount of funds flow in.
The weekly pressure level is $110000-120000-131250-166700
The daily line is a small negative line, and the trading volume is basically the same as the previous day, or slightly more. The liquidity will be slightly worse over the weekend, and the trading volume will also be worse than the previous two days. This is normal.
If the weekly chart has a big positive line, then there will be a trend of upward surge, but the big positive line also consumes a lot of the bulls' strength, and the trend has been fluctuating at a high level in the past two days. When the bulls are weak, the bears are likely to counterattack, so we need to pay attention to the price drop after a short-term surge.
The daily MA30 line is still on an upward trend, so the daily upward trend has not ended yet. MACD shows a weakening upward momentum not far above the zero axis, which means that adjustments need to be made in the short term.
The operation is still to buy on dips, and you can make short-term short orders, but you must stop profits in time and do not become the fuel for the rise of Bitcoin.
Currently, Bitcoin is still rebounding at the 8-hour level. The 8-hour MACD has shown a sustained weakening of upward momentum at a high level. Pay attention to the price falling back.
The entry point for short-term long orders is at the 2-hour and 4-hour EMA52 lines (102160-99980)
The daily pressure level is 105000-110000-120450, and the support level is 99500-97750-95200-92840
Judging from the Bitcoin liquidation heat map, short orders have begun to accumulate slowly in the past two days. These short orders are bound to become the fuel for Bitcoin's rise. In the short term, there are a large number of large and super-large long orders waiting for liquidation near $100,200. The price is likely to go here, plundering the liquidity of the contract.
The price is rising, and there are still a lot of large short orders waiting to be liquidated in the 104900-108150 area.
The price is falling, and there are still a lot of large and super large long orders waiting to be liquidated in the 103350-98850 area.
