The Bitcoin trend is as we predicted in our group, first falling to around 92000 to seek support, with Binance's spot price dropping to about 92520, then forming a wave of hourly-level rebound. The daily line closed with a small bearish doji, and the trading volume is about twice that of the previous two days. The short-term bottom pattern will need to wait two more days to be confirmed. If another wave of decline occurs at this position, briefly breaking below the 90000 mark and then pulling back, the effect will be better. Altcoins have not been following Bitcoin closely during its drop yesterday, indicating that most altcoins have already adjusted in advance with Bitcoin. If they continue to drop, they will break down and need a longer time to adjust. The main force in altcoins is reluctant to sell, waiting for Bitcoin to stabilize before a stronger rebound trend appears. When prices drop, remember to buy altcoins in batches, as a new round of altcoin rotation and rising trend will emerge soon. Do not fall before dawn. The daily level resistance is at 99400-112000-126000-134000, and the support level is at 92060-87300-78850.
Hourly level trend, currently following the 1-day EMA52 rebound within the return to the EMA52 line, inside the 2-hour pullback, inside the 1-hour pullback, and within the 5-minute rebound trend.
In the short term, short positions can be made at 96750-98300-99235, and long positions can be made at 93100 and 91600.
Through the Bitcoin liquidation heatmap, we can see
Price is rising, with a large number of significant and oversized short positions waiting to be liquidated in the 96300-101950 area
Price is falling, with a large number of significant long positions waiting to be liquidated in the 92400-90500 area
