Analysis: If BTC continues to close lower, the MACD fast and slow lines will form a death cross trend

The latest post from the Charging Duck Army points out that BTC's daily line is a small cross star pattern with a small negative line, and the trading volume is only one quarter of the previous day. As predicted, it is making narrow fluctuations.

The MA30 line on the daily chart maintains an upward trend, and MACD shows that the upward momentum above zero axis quickly weakens. If we continue to receive negative lines today, MACD fast and slow lines will form a death cross trend, and there is still room for price to continue to fall and adjust. In short term, this trend will be maintained until after Monday's U.S. stock market opens.

Daily level resistance levels are 71700-72700-74000-75000; support levels are 67730-66360-65420. From an hourly perspective, currently it’s following a 12-hour rebound price back test of the 12-hour MA30 line; prices stick close to this 12-hour MA30 line in narrow fluctuation trends.

In short-term trades you can go short at 70800 and 71700 or long at 68900 and 67800. Looking at liquidation heat maps over three days: when prices rise there are some large sell orders waiting for liquidation between areas of 69850 -70850; many large-scale sell orders await liquidation between areas of71550 -73850 . When prices drop there are many large buy orders awaiting liquidation in area between68800 -665000.