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BTC: Bears plunge
2023-05-19
909
Fundamental analysis:
Bitcoin remained oscillating around 26725. Lightspark, the bitcoin lightning network company founded by Meta cryptocurrency director David Marcus, announced the launch of Lightspark Wallet SDK. Lightspark Wallet SDK can handle the complexity of lightning payments, allowing companies to provide payment solutions to their customers within 48 hours.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, and the short-term decline may continue. The market as a whole is in the midst of a strong downward movement of the short-term momentum. The MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance level: 27086 27326
Support level: 26479 26280
Trading strategy: bearish below 26859, target 26479 26280
Alternative strategy: call above 26859, target 27086 27326
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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