After the price dropped and retested the 12-hour EMA52 line, it oscillated at the hourly level for two days. Last night, influenced by Powell's comments, it surged, with a single-day increase of over 16%, and the price also set a new all-time high (Binance spot price).
This round of increases is driven by the momentum of the 3-day MA30 line and the 2-day EMA52 line. Currently, it has pulled back to form a rebound off the 1-day MA30 line and the 12-hour EMA52 line.
The drop from August 14-19 did not fully complete, so yesterday's rise was entirely due to short-term capital piling up. Attention should be paid to the upcoming downward pullback trend; do not blindly chase highs.
The daily EMA52 line will still be an important support level in the near future.
Daily resistance levels at 4880-5000-5400-5800, support levels at 4560-4380-4080-3780.
