btc

Hourly level showed a downward fluctuation in the morning, started to rise in the afternoon, and in the late trading of US stocks, there was another quick drop around midnight. The fluctuations at the hourly level are starting to increase, which means the fluctuations at the daily level will also increase.

The 1-hour and 2-hour levels are no longer sufficient to support the current high-level fluctuations. Currently, the momentum at the 4-hour level is supporting it, and the price needs to retrace to the 4-hour or 8-hour support before rising again for a healthier trend. The retracement position is at 92750-90300.

As for the strong support at the daily level, one is the MA120 line (91680) and the other is the daily MA30 line (86470). The daily MA30 line is relatively far from the price, so it is unlikely that the price will drop that much in a short time. Therefore, the MA30 line will continue to rise and approach the price.

The upward trend at the weekly level has been confirmed, and any retracement presents a buying opportunity.

The daily level resistance is at 96188-99700-102044, and the support is at 91680-88950-86120-82880.