The weekly line is a bullish line with a short upper shadow and an amplitude exceeding 10%. The amplitude of bullish lines has been shrinking for three consecutive weeks, with trading volume down by one-quarter compared to the previous week.
The weekly MA30 line maintains an upward trend, and the MACD shows an increasing upward momentum above the zero axis.
The bullish lines at the weekly level are shortening, indicating that the momentum of the upward trend is beginning to slow down. The continuous four weeks of bullish lines have also consumed a lot of the bulls' strength, and the price is also quite far from the weekly MA30 line.
This week will still have an impulsive upward trend, with the price just one step away from breaking the $100,000 mark. It is highly probable that it will break upwards before then experiencing a downward correction.
The upcoming weekly level correction will not be a crash but rather a fluctuating decline, allowing the price to slowly return to the weekly MA30 area.
The imitation season is really coming~
The daily line is a small bullish line with short upper and lower shadows, showing a doji pattern. The trading volume is one-quarter more than the previous day, indicating a high-level oscillation trend.
The daily MA30 line maintains an upward trend, and the MACD shows a weakening upward momentum above the zero axis.
The daily level is still in a high-level oscillation trend, but it has already entered the overbought zone. It is also important to pay attention to the short-term decline after breaking through the $100,000 mark.
There are still nearly $100 million in sell orders at this $100,000 position. Remain cautious, as this is a psychological price level for many, a key point in the battle between bulls and bears. Additionally, the price is quite far from the MA30 line, making a downward correction beneficial for future trends.
The daily level resistance is at 103000-109500-126000, and support is at 96220-94670-92060-89100.
From the hourly level perspective, it is currently in a rebound within the 1-day MA30 line, with a 2-hour rebound reaching a new high showing a divergence at the top. The price is still rebounding, but it is essentially a rebound energy at the 4-hour level.
In the short term, one can go long at 94670 and short at 99180 and 100000.
From the three-day liquidation heatmap view
The price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 98500-102900 area.
The price is falling, with a large number of large long positions waiting for liquidation in the 95750-93800 area.
