At the hourly level, there was a wave of oscillating decline during the day, and after the US stock market opened, it fell slightly in line with the trend, then quickly rebounded, which is basically consistent with our prediction from yesterday. The current price still remains above $110,000.
The daily line shows a small bullish candle with a long lower shadow, indicating that the upward momentum is still strong. The daily MA30 line has turned to a slight upward trend, and the MACD shows a weakening of downward momentum after returning to the zero axis above the zero axis, with a golden cross between the fast and slow lines.
As mentioned yesterday, if the MACD fast and slow lines form a golden cross, the rebound at the daily level will take effect, and the price will further rise, continuing to push towards the $120,000 position. If there is no major negative news impact, the decline in the hourly price will not be significant, and it will all be a normal downward retracement.
Daily resistance level: $120,400 - $130,000, support level: $106,000 - $101,260 - $97,670 - $95,860 - $93,410.
From the Bitcoin liquidation heatmap, it can be seen that there is still a large accumulation of short positions above $110,000, and the price is very likely to rise further to seize contract liquidity.
The price is rising, and there are a large number of significant and oversized short positions waiting for liquidation in the $110,400 - $114,150 area.
The price is falling, and there are a large number of significant and oversized long positions waiting for liquidation in the $108,200 - $103,400 area.
