BTC
Yesterday's news and technical factors led to a significant pullback in the market, resulting in a heavy blow to the bulls.
In the analysis of the market from the past two days, I mentioned that after Bitcoin reaches this height, it is essential to pay attention to the risks at the daily and weekly levels. As it attempts to push higher, its momentum will also relatively weaken. However, we can see that in this wave of market movement, Bitcoin continues to rise, but altcoins remain low, lying down like small dogs, which is a painful situation for retail investors.
Looking at the current technical situation, yesterday's wave caused a pullback at the four-hour and one-hour levels. Currently, it has pulled back to the lower edge of the range, where it found support. If this position is used for short-term trading, there is an opportunity. We can aim for a rebound at the one-hour level. This position will have another hour of movement. If it does not break 102500 during this movement, it presents a short-term opportunity. If it breaks that level, it will undergo a larger adjustment. At this time, it is crucial to pay attention to whether the daily MACD can break below the zero line. If it breaks below the zero line, it will lead to a pullback at the weekly level!
Support: 102500-101300
Resistance: 106700-108000
Personal analysis for reference only, not investment advice
