The 6-8 hour rebound is over. The price has now fallen below the support of the 8-hour EMA52 line. It will go to the 12-hour support (104200) and then continue to rebound. The hourly level will rebound strongly. We need to observe whether the rebound can continue to be strong. If the rebound becomes weaker and weaker, then 111980 will be the recent top, and the price will continue to fall to find support at the daily level, that is, the daily MA30 and daily EMA52 (103280 and 99370).
The daily line is a negative line with an upper shadow and almost no lower shadow, which shows that the downward momentum is relatively strong. It will continue to fall today and then rebound.
The daily MA30 is still in an upward trend, so in the short term, as long as the price does not fall below the MA30 line, it will still be an upward trend at the daily level.
MACD is still above the zero axis and shows an increasing downward momentum, so the price still needs to adjust in the short term and it is impossible to directly reverse in a V-shape.
In terms of operation, go long at the 12-hour and daily support, and go short at the hourly downtrend line after the rebound.
From the Bitcoin liquidation heat map, we can see
The price is rising. There are a small number of short orders waiting to be liquidated in the 106500-108700 area, and a large number of large and super large short orders waiting to be liquidated in the 108900-113000 area.
The price is falling, and there are a lot of large long orders waiting to be liquidated in the 105500-103050 area.
