Yesterday's rebound was disappointing; both Bitcoin and altcoins showed weak rebounds.
The Federal Reserve meeting early this morning did not cause significant fluctuations in Bitcoin's price, having already dropped significantly before the meeting. It should be noted that there will be non-farm payroll data tomorrow (Friday) night, which will also have a short-term impact on price trends.
The daily line shows a candlestick with a long lower shadow; trading volume is slightly higher than the previous day but remains roughly flat, with no continuation of volume-driven declines. The long lower shadow indicates that buying strength (bullish) is beginning to appear at this level.
The price has dipped into the red zone, which is also the bottom area from previous declines, indicating that the support at this position is still strong.
The daily MACD is entangled near the zero axis; today the US stock market is closed, and Friday is non-farm data, so there is unlikely to be a good trend in the short term, likely resulting in wide fluctuations.
Altcoins have provided ample opportunities to enter; buy the spot in batches on dips, and take profits on contracts in a timely manner. Remember that spot trading follows trends while contracts benefit from volatility; don’t be rigid in your thinking.
Daily resistance levels are 98090-103000-110000-120000-134800, and support levels are 92700-91200-89850
From an hourly perspective, the 15-minute pullback has completed, and the price has rebounded to the 30-minute resistance level, exhibiting a 30-minute pullback trend.
On the short term, short positions can be taken at 95685 and 96800, while going long at 93200.
From the Bitcoin liquidation heatmap data
Price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 95500-102400 range
Price is falling, with some large long positions still waiting for liquidation in the 92450-91200 range
