$BTC The technical aspect is not optimistic
Last night BTC surged to around 99300, then pulled back to around 97600, which is a small support level, before rebounding 1200 points and then moving sideways upwards.
From a technical perspective, it seems that the MACD has formed a death cross, which is a typical bearish signal, and we can interpret this as a need for a weekly-level correction. The large bearish candle from last week has already intensified market panic, leading to a significant outflow of funds. Therefore, based solely on this indicator, the next move appears to be sideways consolidation.
On the daily chart, the upward trend has broken down, with the 5-day and 10-day moving averages crossing below, but as long as it doesn't drop below 85, it's just a minor setback.
In the short term, the resistance above is at 99500, with a breakout target of 102000, although there have been multiple failed attempts to break through.
Currently, the focus remains on low long positions.