The daily line is a small bearish candlestick with a doji shape, and the trading volume is slightly more than half of the previous day's volume, indicating a high-level shrinking volatility trend.
The daily MA30 line has turned from a downward trend to a flat trend, and the MACD shows an increase in bullish momentum near the zero axis, but currently, the bullish momentum is not very strong.
The price is currently above the daily MA30 line, and it has closed above it for two consecutive days. If it can stabilize for three days, there is a chance to continue pushing upward. If it retests the daily MA30 line without breaking below it, it can be considered a preliminary stabilization. We need to wait for the MA30 line to turn upward to believe that the daily-level trend has reversed from a downward trend to an upward trend.
Therefore, at the moment, this position shows shrinking volatility, which can go up or down. It is best to observe and wait for the market trend to become clear; if it moves quickly, a direction will be chosen within two to three days.
Here, I personally still lean towards a rebound rather than a reversal, and it is not yet time for a reversal, so it will still decline, breaking below the daily MA30 line and looking for support at lower levels.
The daily level resistance is 110300-120000, and the support levels are 103480-100400-97850-95930-94000.
From the liquidation heatmap of Bitcoin,
The price is rising, and there are a large number of significant and ultra-significant short positions waiting for liquidation in the 108300-109700 area.
The price is falling, and there are a large number of significant and ultra-significant long positions waiting for liquidation in the 106450-102950 area.
