The daily line is a negative line with upper and lower shadows. The trading volume is one-third less than the previous day. The entity of the negative line engulfs the previous positive line entity, so a short-term top pattern appears.
The daily MA30 line maintains an upward trend, and MACD shows a weakening upward momentum above the zero axis.
After Bitcoin surged to $93421, the bulls consumed a lot of energy and needed to make adjustments in the short term. The daily level correction will continue for a while. In addition, the U.S. stock market will not open on weekends, and U.S. stock ETFs are the main source of buying funds. In the next few days, there will be a wave of adjustments in the form of fluctuations and declines.
There is no plummeting trend at the daily level, all are normal adjustments, but at the hourly level, there may be relatively large fluctuations.
The altcoins will take the opportunity to make up for the losses in the next few days. It is not recommended to participate in the altcoins that have risen too much. Instead, you should look at the coins that have just started, which have not risen much at the bottom on the daily chart, or which have fallen back to the right level. They will all have good upward performance.
Daily pressure level 92000-96050-109800, support level 84900-82800-80700-76800
From the hourly level, the 1-hour level rebound trend has ended, and the price has now returned to the vicinity of the 2-hour EMA52 line and started a 2-hour level rebound. However, as we have said before, the recent 1-hour level rebound is actually the strength given by the 2-hour level rebound, so the strength of the 2-hour level rebound will not be very strong. It will take a stronger rebound to reach the 4-hour level support.
In the short term, you can go long on the 4-hour MA30 line and the 4-hour EMA52 line, the prices are 68020 and 82750 respectively, and go short at 90000 and 92000
From the three-day liquidation heat map
The price is going up. There are some short orders waiting to be liquidated in the 89850-910550 area, and there are a large number of large short orders waiting to be liquidated in the 91850-94850 area.
The price is going down, and there are a lot of large long orders waiting to be liquidated in the 86650-83250 area.
