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BTC: bearish downside

Fundamental analysis:

Bitcoin remained oscillating around 27001, and the cryptocurrency enterprise financial platform Nilos launched a new virtual EU bank (VirtualEUIBANs) for European companies engaged in encryption business. The solution allows businesses to have a dedicated cryptocurrency-friendly payments account, enabling them to create virtual accounts in Euro and GBP, make payments across Europe and the UK, and use SEPA and Faster Payments Rail.

Bitcoin BTCUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics continue to fluctuate downwards, the short-term short-term sentiment is shrouded, the market is constantly moving downward, the MACD indicator is in the short-term area for consolidation and translation, and the RSI indicator is in the short-term area for maintenance;

Resistance level: 27330 27554

Support level: 26765 26552

Trading strategy: bearish below 27106, target 26765 26552
Alternative strategy: call above 27106, target 27330 27554

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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