On the hourly level, there was a rise followed by a fall. Yesterday morning's large bullish candle on the hourly level drove a general market increase, with Bitcoin's price briefly rising to $110000. After midnight, there was a wave of decline and pullback, and the current price is oscillating around $109400.
The daily chart shows a small bullish candlestick in a doji pattern, with trading volume remaining basically consistent with the previous two days. The U.S. stock market has been closed for three consecutive days, resulting in relatively lower trading volume and liquidity.
The adjustment on the 8-hour level has not ended; this position can either rise or fall. Tonight, with the U.S. stock market opening, there should be significant price fluctuations. Personally, I still feel that we need to be cautious of a rapid upward spike followed by a quick drop on the hourly level.
Currently, the short-term trend is still contract-driven, with an upward spike to break through a wave of short positions, followed by a drop back to the 8-hour to 12-hour support level before rebounding upward.
The daily level resistance is at 120450-131000-140000, and support is at 105365-103020-101430-98400
From the Bitcoin liquidation heatmap, we can see
the price is rising, with a large number of large and super-large short positions waiting for liquidation in the 110450-113650 area, with key liquidation levels in the 110450-11600 area
the price is falling, with some large long positions waiting for liquidation in the 108750-107350 area, and a large number of large and super-large long positions waiting for liquidation in the 106450-104750 area
