Yesterday's hourly level showed fluctuations in the morning and a surge in the afternoon. Everyone thought Bitcoin was going to break through, but after several hours of fluctuation at a high level, it quickly fell after the US stock market opened, hitting a low of 102345 (Binance spot price), followed by a quick rebound, currently fluctuating around 103240.
The daily chart shows a bearish candle with long upper and lower shadows. The trading volume is more than twice that of the previous day, but it still falls within the normal trading volume range. The price has dropped to near the daily EMA52 line, forming a weak rebound.
The daily MA30 line has shown a clear downward trend, with the MACD fast line crossing below the zero axis, and the slow line also showing an increased downward momentum close to the zero axis.
We have been saying recently that the support of the daily EMA52 line will become weaker, and the price is likely to drop further to find support at lower levels.
All rises are just rebounds and not reversals; we should prepare for a 4-8 week adjustment period, which may be quite difficult.
Daily resistance levels are 106580-110300-120400-130000, and support levels are 97650-95930-93910.
From the Bitcoin liquidation heatmap, it can be seen that
the price is rising, with a small amount of large short positions waiting for liquidation around 104700, and a large number of large and extra-large short positions waiting for liquidation in the 106400-109150 range.
the price is falling, with a large number of large and extra-large long positions waiting for liquidation in the 102200-100150 range.
