The daily chart shows a small bullish candle with a trading volume only half of the previous day, indicating a volume contraction increase. The price has reached the daily MA30 line and is again under pressure, but has not seen a significant drop; instead, it chooses a slight downward fluctuation on an hourly basis.
It should be noted that the current rebound is at the hourly level, and the hourly level has shown a continuous strengthening of the downward momentum. Therefore, the price still needs to drop further, at least retesting around 104900, before continuing to rebound.
At the daily level, the MACD is returning to the zero axis, showing a continuous weakening of the downward momentum, but there is still upward driving force, although it is being constrained by the downward trend line above.
So at this time, it is best to wait patiently for the price to regain and hold above the daily MA30 line before entering the market, which would be more prudent.
Today is Sunday, and liquidity will still be a bit poor, waiting for clearer trends.
Daily level resistance at 106000-110000-120400-130000, support at 100860-97670-95100-93410.
From the Bitcoin liquidation heat map, it can be seen that
the price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 105950-109400 area.
the price is falling, with a large number of large long positions waiting for liquidation in the 104100-99350 area.
