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BTC: bearish weakness moves down
2022-11-22
1348
Fundamental analysis:
Bitcoin remained volatile around 15786. Stefan Berger, a member of the European Parliament and chief negotiator of the Crypto Asset Market (MiCA) bill document, said that after the collapse of the exchange giant FTX, the EU should suspend the implementation of more encryption regulatory measures. Regulators should wait until the new EU law on cryptocurrencies comes into force.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that the low short position power maintains a narrow range of consolidation and slowly declines, and the short-term decline may continue. The low position in the early stage is close to breaking, the MACD indicator is at the lower side of the 0 axis, and the RSI indicator is at the lower side of the 50 equilibrium line;
Empty turning point: 15,994
Pressing: 16370, 16725
Support: 15402, 15116
Trading strategy: 15994 bearish, target 15402, 15116
Alternative strategy: 15994 upside bullish, target 16370, 16725
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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