The daily chart shows a bearish candlestick with long upper and lower shadows, and the trading volume reached its highest level since August 5.
The daily MA30 line maintains an upward trend, and the MACD shows an increasing bearish momentum above the zero line.
The price started to surge dramatically yesterday morning, breaking through the $100000 threshold, then consolidating at a high level. After the US stock market opened, there was a spike, followed by a decline, and a spike around six this morning took away a large number of long positions.
The spike occurred right at the support level of the daily MA30 line; this spike was executed beautifully. Attention should be paid to the subsequent second decline at the hourly level; if it drops, be ready to enter the altcoin market.
Today's spike in Bitcoin can be seen as a bottom position in the last week or two. As for the subsequent trend, we will watch it as we go.
The focus is still on altcoins; when Bitcoin spiked, altcoins did not crash alongside it, just symbolically moved slightly down. Those that have risen significantly still need time to adjust and repair their candlestick patterns. Therefore, for altcoin spot purchases, continue to buy in batches at lower prices, and avoid chasing high prices to prevent further declines.
Daily level resistance levels are 99400-100400-126000, and support levels are 94270-91900-87300-84900.
From the hourly level, it is currently showing a rebound of the daily MA30 line returning to the MA30 line within a 5-minute retracement trend.
Short positions can be taken at 97920, and long positions can be taken at 94270 and 91900.
From the three-day clearing heatmap,
the price is rising, with some large short positions waiting to be cleared in the 99600-100600 range, the 100160-100300 range, and the 100375-100700 range.
the price is falling, with a large number of long positions being cleared, and there are not many long positions left to be cleared.
