Yesterday's rebound was unsatisfactory, both Bitcoin and altcoins showed weak rebounds.
The Federal Reserve meeting early this morning did not cause significant fluctuations in Bitcoin's price; it had already dropped significantly before the meeting. It is important to note that there will be non-farm data tomorrow (Friday) evening, which will also have a short-term impact on price movements.
The daily line shows a candlestick with a long lower shadow, and the trading volume is slightly higher than the previous day, but basically remains flat without further volume decline. The long lower shadow also indicates the emergence of buying power (bullish) at this level.
The price has pierced into the red zone, which is also the bottom area of previous declines, indicating that the support at this level is still strong.
The daily MACD is entangled near the zero axis, today the US stock market is closed, and Friday is also non-farm data day. There will likely not be a good trend in the short term, and it is expected to move in a broad range.
Altcoins have provided ample opportunities to enter; buy the dips in batches for spot purchases and take profits in contracts in a timely manner. Remember that spot trading profits from trends, while contracts profit from volatility; do not be rigid in your thinking.
Daily level resistance at 98090-103000-110000-120000-134800, support at 92700-91200-89850
From an hourly perspective, the 15-minute pullback is completed, and the price rebounded to the 30-minute resistance level, showing a 30-minute pullback trend.
Short-term positions can be shorted at 95685 and 96800, and long positions can be taken at 93200.
According to the Bitcoin liquidation heatmap data
Price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 95500-102400 range
Price is falling, with some large long positions still waiting for liquidation in the 92450-91200 range
