The weekly line is a bearish candle with short upper and lower shadows, and the trading volume is about one-third less than the previous week. The weekly level still maintains a volatile upward trend.
The MA30 line on the weekly chart has started to slightly turn upward from a flat position, and the MACD shows a weakening upward momentum near the zero axis, but the height of the energy bars over the past two weeks is basically consistent, with no significant weakening of upward momentum.
The weekly level still maintains an upward trend characterized by waves of rises and falls. The short-term decline mainly follows Bitcoin's adjustment in the same direction, but the overall trend is much stronger than Bitcoin, so there is no need to worry too much about a sharp drop.
The price may continue to retest near the weekly MA30 line, which is around 151.6, but it still depends on how Bitcoin performs.
The daily line is a small bearish candle with a long lower shadow and short upper shadow, and the trading volume is about twice that of the previous day, still belonging to a normal downward retracement trend.
The MA30 line on the daily chart maintains an upward trend, and the MACD shows an increase in downward momentum above the zero axis.
The price has temporarily broken below the daily MA30 line and approached the daily EMA52 line. After gaining support, it has formed a relatively strong rebound trend.
The hourly level will continue to pull back down, and the area between 151.5-157.5 is a very cost-effective entry point; don't miss it.
The resistance levels at the daily level are 170.5-177.2-188.3 and the support levels are 157.5-151.5-142.6-126.3.
From the hourly level, the 12-hour rebound has completed, and we are now starting to move into a daily level rebound. Currently, it is a 1-hour pullback within the daily rebound. In the short term, short positions can be taken at 166.6 and 168.2, and a long position can be taken at 157.5.
From the three-day clearing heatmap view
The price is moving up, and there are a large number of significant and super-large short positions waiting to be cleared in the 163.8-173 area.
The price is moving down, and there are a large number of significant long positions waiting to be cleared in the 157.4-146.4 area.
