After the Bitcoin price dropped and tested the daily EMA52 support level again, a relatively good rebound trend formed, showing a nice phase bottom pattern, indicating that a rebound is about to come.
On the daily level, there is a long bullish candle with short upper and lower shadows. The MACD is returning from a high position to the zero axis, showing a weakening downtrend. If today there is another bullish candle, it will form a MACD golden cross, and the price will further rise.
Normally, it should not directly V-reverse here; it needs to oscillate for a while, and after accumulating power and adjusting well, it will continue to rise. In the past few days, it is also the European and American Christmas holiday, so the market's liquidity will be somewhat lacking. Attention should be paid to speculative funds coming in to stir things up, with violent price fluctuations occurring on the hourly level.
We emphasized yesterday that the main force of altcoins is reluctant to sell. It is important to be brave enough to buy altcoins in batches. After Bitcoin rebounds, the altcoins will definitely see a nice rebound trend.
On the daily level, resistance levels are 99400-112000-126000-134000, and support levels are 92550-87300-78850.
On the hourly level, the trend currently follows the 1-day EMA52 rebound, where the 10-minute rebound encounters resistance at the 12-hour MA30 line. In the short term, short positions can be made at 99500, and long positions can be made at 97580 and 96600.
From the Bitcoin three-day liquidation heatmap, it can be seen that the price has risen, with some large short positions waiting for liquidation in the 99500-100500 area. In the 97150-96450 and 95400-94400 areas, there are some large long positions waiting for liquidation. In the 93450-90450 area, there are a large number of large long positions waiting for liquidation.
