The weekly candlestick is a slightly longer bearish candle with upper and lower shadows, with trading volume remaining the same as last week, showing no significant decline in volume. The weekly MA30 line is slowly transitioning from an upward trend to flat, and the weekly MACD is showing a weakening upward trend near the zero axis.
The adjustment at the weekly level will continue; currently, it is in a top divergence pattern. A pullback to the weekly MA30 line (95800) will see a rebound, but the strength of the rebound will not be significant, followed by a continued downward adjustment. The strong support at the weekly level will still be near the weekly EMA52 line (85000), where a strong rebound is expected.
The daily candlestick is a bearish candle with long upper and lower shadows, and the trading volume is more than double that of the previous day, showing a significant increase in trading volume compared to the previous few days.
The daily MA30 line shows a clear downward trend, the MACD fast line has crossed below the zero axis, and the slow line is about to cross below, indicating an increase in bearish momentum.
During the day, the price shows a volatile trend on the hourly chart, and starts to drop rapidly at night, hitting a low near 98200 before forming a quick rebound, with the current price oscillating around 100830.
The lowest point is near the 3-day MA30 line, so after the daily level adjustment, there will be a rebound upward, with the rebound height near $104000. However, after the rebound, there will still be a continued downward adjustment, with strong support positioned in the $93310-$94200 area.
Daily level resistance is at 104000-106580-110300, and support is at 97650-95930-94000
From the Bitcoin liquidation heatmap, 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 101000-108000 area
the price is falling, with some large long positions still waiting for liquidation in the 98050-95500 area
