After a pullback to the 1-hour support level, a rebound has formed at the hourly level. This coincides with the position of the daily MA120 line. The daily chart shows a small bullish candle resembling a doji with a lower shadow, and the trading volume is two-thirds of the previous day, indicating a contraction in high-level consolidation.
The 1-hour rebound is not as strong as expected, and without a new high, the price trend shows weakness. Therefore, the price will need to drop back to retest the 2-hour support level before rebounding again.
Currently, the upper pressure level of the red boxed area remains relatively significant. In the short term, it will likely continue to be in a high-level consolidation trend, allowing some time for the altcoins to catch up.
Next, we can go long at the EMA52 lines on the 2-hour, 4-hour, and 12-hour charts to capture a short-term rebound.
If this week's closing is above the MA120 line, there will be further upward momentum, and the price will continue to approach 100000. If it does not close above the MA120 line, then it will need to continue downward to find support.
Daily level resistance at 96188-99700-102044, support at 91650-88950-86120-82880.
From the liquidation heatmap data of Bitcoin, we can see that
As the price rises, there are a large number of significant and ultra-large short positions waiting to be liquidated in the 94000-97100 area.
As the price falls, there are a large number of significant and ultra-large long positions waiting to be liquidated in the 91500-86700 area.
