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BTC: bearish downside
2023-02-10
1174
Fundamental analysis:
Bitcoin remained volatile around 21948. Web3 and metaverse space entertainment community TDGA Holding Ltd announced the completion of a US$20 million seed round of financing, with Singaporean media company New Media Holding participating. NMH has committed to be the lead investor in the round, valuing TDGA at $100 million.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market is shrouded in bearish sentiment, the short-term continuation of the downward trend continues to fluctuate and move downward, the MACD indicator is in the bearish area and slowly moves downward, and the RSI indicator is in the bearish area to maintain the shock and move downward;
Long and short turning point: 22066
Suppression: 22307, 22446
Support: 21724, 21502
Trading strategy: bearish below 22066, target 21724, 21502
Alternative strategy: call above 22066, target 22307, 22446
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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