When we wrote the market analysis at the end of November, we had drawn a weekly chart of Bitcoin, which currently aligns closely with our previous expectations.
The weekly chart of Bitcoin shows a small bullish candle with a longer lower shadow than the upper shadow, and the trading volume is basically on par with the previous week, indicating a wide fluctuation trend at a high level.
The weekly level is likely to show a fluctuating upward trend, which will continue until late January to early February, before starting a new upward market phase.
The trend is upward, and the process is tortuous. If you are optimistic about this trend, then buying at the bottom in spot trading and holding it well is sufficient.
On the daily level, the price is in a narrow range around the daily MA30 line, with two consecutive days of small doji bullish candles, appearing as a line at the daily level, showing no volatility. However, on the hourly level, there are still relatively large fluctuations.
Today is Monday, the US stock market will open for trading, and the CEO of MicroStrategy hinted on Twitter that they will continue to buy. The European and American markets, as major funds and players, will inject significant capital, which greatly promotes the rise of Bitcoin.
The daily candlestick pattern is also in a state where it can be lifted at any time, so patience is required.
It is important to note that there are still a large number of long positions waiting for liquidation, so the hourly level trend still has the possibility of a rapid downward spike to target liquidation of contracts. High leverage long positions must be cautious and set stop losses.
If there is a decline, be sure to buy the dip on altcoins and make good mid-line arrangements for altcoins. Whether you can reap big gains in the first half of the year depends on whether you have made the corresponding arrangements at this time.
Daily level resistance at 101080-104000-112000 and support at 96930-93860-91600-90200.
The hourly level operates within the daily EMA52 rebound, where the 1-2 hour rebound encounters the daily MA30 retracement trend.
On the short term, you can go long at 97250 and 96700, and go short at 99000 and 99756, effective within the day.
From the liquidation heat map data of Bitcoin, it can be seen that
The price is rising, with a large number of significant and ultra-large short positions waiting for liquidation in the 98900-100250 area and the 101100-101950 area.
The price is falling, with a large number of significant and ultra-large long positions waiting for liquidation in the 97150-95900 area and the 95150-94050 area.
