The daily line is a bearish candlestick with a long upper shadow. The trading volume is within normal range. The daily MA30 line is still in an upward trend, and the MACD is showing a dead cross slightly above the zero line.
A long upper shadow indicates significant resistance. The focus is still on adjustment. If the price rebounds, it will still get pushed down.
As we mentioned yesterday, there may be a downward adjustment, or it may consolidate sideways. It depends on how Bitcoin moves.
The strategy remains to reduce positions on rebounds. If the price does not effectively break through the strong resistance at 210, do not chase the highs. It is much better to patiently wait for a pullback to buy at lower prices than to chase after the highs.
Near the daily MA30 line, which is also around the upper edge of the red box (164-168), take a short-term long position (targeting around 183).
The daily resistance levels are 193-210-220, and the support levels are 175-166-156-145.
