Bitcoin market situation:
At present, the intraday Bitcoin rebound touched the weekly EMA7 and fell back significantly. The time that contributed to this wave of rise was also the European session. How much of the Asian session power is currently uncertain. With this wave of rebound and rise, the price once again consolidated its position on the upper track of the daily Bollinger Band.
The previous key daily resistance level became a short-term support after the breakthrough, around 63,500.
The resistance level for continued rebound above is the weekly EMA7 near 66,200 and the upper daily line near 67,300.
Once the short-term price breaks through the daily resistance level of 67,300 and stands firm without falling, the market sentiment will tend to be optimistic and bullish.
For the support below, except for around 63,500, once it falls below, we will continue to look at the position of the integer level. At present, this wave of rebound fell back to 65,000. I don’t know if it triggered the exit mechanism of a large number of holders at this position. The relevant data still needs to look at the situation on the chain.
Let’s take a look at the market data and capital changes on Monday later. Whether Bitcoin can continue to break through tonight depends on the situation of the U.S. stock market. Before the U.S. stock market opens, we should pay attention to whether U.S. funds are being sucked out. If so, we need to see the return of funds after the U.S. stock market closes. If the U.S. stock market performs well tonight, whether Bitcoin can use sentiment to break through the upper resistance will become very critical.
