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BTC: Bears tumble
2022-12-19
1148
Fundamental analysis:
Bitcoin remained oscillating around 16851. American asset management giant VanEck recently stated that the winter of cryptocurrency has not yet reached the coldest time. Matthew Sigel, director of digital asset research at VanEck, predicts that the price of Bitcoin will fall to $10,000 to $12,000 in the first quarter of next year.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fluctuate and fall, the short-term decline may continue, the market is in a good short position, the MACD indicator is in the bearish area and the RSI indicator is in the short area to maintain a weak order;
Long and short turning point: 16920
Suppression: 17090, 17242
Support: 16688, 16531
Trading strategy: bearish below 16920, target 17090, 17242
Alternative strategy: call above 16920, target 16688, 16531
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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