The weekly line is a bullish candle, with the body exceeding more than half of last week's bearish candle. Last week's decline was ineffective, and this week will continue to rise. The weekly line rebounded after retracing to the MA30 line and the upper edge of the red box, indicating that this position has relatively strong short-term support.
Next, continue to rebound. The short-term goal is to rise above and stabilize at 200 to open up new upward space. The medium-term target is the 230-240 area, provided that Bitcoin does not drop.
The daily line is a small bullish candle with upper and lower shadows, and the daily line shows a five consecutive bullish candle pattern, accompanied by a slow increase in trading volume. After MACD returns to the zero axis, a golden cross trend is formed, and the price has also re-established itself above the daily MA30 line. The upward trend at the daily level has not yet ended and still has the momentum to continue rising.
Small steps of upward movement only need to wait for the acceleration at the daily level, then profit can be taken in batches. The accelerated upward trend should appear soon.
Currently, it is rebounding from the monthly MA30 line and EMA52 line, within the weekly MA30 line rebound, inside the 2-day MA30 line rebound, within the 6-8 hour MA30 line rebound, and within the 1-hour EMA52-2 hour MA30 line rebound. The trend is not very standard.
Short-term long positions can be taken at the 2-4-6-8 hour EMA52 line.
Daily level resistance at 193-210-220, support at 176-167-158-145-136.
