Bitcoin follows the pullback of the US stock market last night, continuing another round of downward trend.
The small scale once again shows increased volume. After breaking below 85,000, it seeks priority liquidity. The US stock market starts a retaliatory rebound after hours.
During the day, the Japanese market announced an interest rate hike to 0.75%. The negative sentiment from short-term news has been released, leading to a retaliatory rebound during the day.
The intra-day volume contraction rebound is breaking upwards at 88,000 points.
This week's last trading day for the US stock market, pay attention to whether Bitcoin can remain stable above 88,000. In the absence of new potential negative news, hope Bitcoin can rebound to higher positions.
As the intraday rebound begins to show signs of stagnation, there is no suggestion to chase long positions at the current level.
In the evening, pay attention to whether it can break upwards with volume above 88,000 to 90,000. This would maintain a short-term consolidation structure, which remains positive for future bulls, after all, the large-scale stop-loss level is still in a range-bound state, and can still be viewed from the perspective of potential accumulation.
In the evening, if it follows the US stocks downwards, still pay attention to the price performance around 85,000. After stopping the decline and stabilizing, treat with a range-bound mindset.
If it breaks down below 85,000, those chasing the breakthrough short positions need to be quick to take profits.
Upper resistance: 88180/90500/91800
Lower support: 85500/83630/81000
After pulling back to 2980, the small level completed a false breakout. It faced a rapid downward volume from bears, during which bulls hardly struggled.
It directly broke below the previous low and reached the expected support around 2770.
With the market rebound, it has moved back above 2880, again testing the pressure around 2980.
The small-level frequent door painting has once again staged a double kill of longs and shorts, and the trading difficulty has risen sharply.
Regardless of bullish or bearish, a slow hand means loss; it may not necessarily be profit lost, but could also be position lost.
The current position is testing the resistance at 2980, and there is no suggestion to chase highs. Observe the effectiveness of support testing around 2880.
After the pullback stops and stabilizes, you can try to catch a bullish rebound with a narrow stop loss.
If it breaks through the resistance around 2980 with volume, and stabilizes above this level, the bullish rebound will continue to test the pressure around 3080.
Upper resistance: 2980/3060/3150
Lower support: 2880/2800/2720
Pulling back to the expected position around 120, the small level follows the market downwards with increased volume.
After a small-level double bottom structure, it rebounds upwards following the market.
The strength of the bullish rebound has noticeably decreased. There is also a chance to test the resistance around 128.
There is no suggestion to chase highs at the current position. After all, the 4-hour level is still in a bearish range-bound downward phase, and the small level has not established a new bullish framework. The rebound against pressure to test shorts is relatively in line with the trend.
In the evening, pay attention to whether it will again pull back downwards; bulls are still lurking around 120/117.
Upper resistance: 128/131/135/
Lower support: 120.1/117/113
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