Yesterday morning, I mentioned that a trend change was imminent, and around noon, the price started to rise. Bitcoin still chose to move upward.
After briefly breaking through the daily MA30 line, the price did not stabilize but began to decline at the hourly level, which is normal. The pullback is for better upward movement, and the MA30 line will be an important position for both bulls and bears to contest in the coming days. The price will continue to oscillate around this area.
The MACD on the daily chart is currently returning to the zero axis, but the fast and slow lines have not yet crossed, meaning the daily rebound has not officially taken effect. After it takes effect, there will be a wave of upward movement. Today is Friday, and the weekend is approaching, so liquidity will be much lower. Therefore, the next few days will mainly be characterized by oscillation, with further upward movement expected next week.
As long as the pullback of Bitcoin is not significant, this is a good time for altcoins to catch up.
Daily level resistance at 117600-120000-128500, support at 113200-107240-99100-91170
