The weekly level of increase has been discussed too many times. Bitcoin has broken through the key level of $110,000 and has set a new historical high. I don't know how many friends are still alive in this market; most people have regrettably exited after consuming their principal in the constant turmoil.
As we mentioned yesterday, there is a resonance increase at the 6-8 hour level, with prices reaching new highs. However, if there is a divergence pattern at this level, a downward adjustment will occur. Therefore, after Bitcoin reaches a new high, it won't drop immediately; it will consolidate at a high level for a while before adjusting downwards. So, there is no need to worry about a sharp decline for now.
When Bitcoin is consolidating at a high level, it's the time for altcoins to surge wildly. Capturing the hot spots and rapidly rising altcoins can yield some short-term gains.
Meme coins are set to make a comeback; I hope everyone can seize the upcoming altcoin market.
Daily level resistance at 120,450-131,000, support at 102,700-100,540-96,670.
From the liquidation heat map of Bitcoin, we can see
As prices rise, there are a large number of significant short positions waiting to be liquidated in the 110,850-111,600 area.
As prices fall, there are a large number of significant and oversized long positions waiting to be liquidated in the 106,000-100,650 area.
