The daily line shows a long bearish candle with a long lower shadow, and the trading volume is more than three times that of the previous day, indicating a significant decline.
The daily MA30 line maintains an upward trend, and the MACD shows a weakening upward momentum above the zero axis.
The trend is actually synchronized with Bitcoin, a magnified version of Bitcoin's trend, with a daily amplitude reaching 12.4%, still within the normal range of daily fluctuations.
The daily line experienced a rapid drop at the hourly level, formed a quick hourly rebound after testing near the daily MA30 line. There will still be a rebound at the daily level, followed by further declines, completing a second decline and bottoming out before transitioning to a consolidation mode, starting to adjust and accumulate, waiting for the daily MACD to return near the zero axis, and then initiating a new round of daily-level upward movement.
This wave of decline is meant to clean out leverage and contracts, as mentioned in yesterday's market commentary, the adjustments at the daily level will not affect the upward trends at the weekly and monthly levels.
Daily level resistance at 3930-4100-4290-4500, support at 3850-3570-3460-3270-3070.
From an hourly perspective, it is currently in a 10-15 minute pullback within a 12-hour rebound.
In the short term, one can short at 3795-3840-3930 and long at 3680-3600.
From the three-day liquidation heatmap,
the price is moving upwards, with some large short positions waiting for liquidation in the 3748-3776 area, the 3800-3860 area, and the 3872-3900 area. There are a large number of large and extra-large short positions waiting for liquidation in the 3952-4080 area.
the price is moving downwards, and this wave of decline has liquidated a large number of large and extra-large long positions, with currently very few long positions waiting for liquidation.
