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BTC: Bulls climb

2023-04-28
846
Fundamental analysis:

Bitcoin remained volatile around 29,628. José Manuel Campa, chairman of the European Banking Authority (EBA), said that the upcoming EU rules governing stablecoins will focus on ensuring that issuers have diversified reserves, manage conflicts of interest, and will not transfer risks to investors. other participants.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising strongly, the short-term bullish sentiment is still there, the market bulls continue to move upward, the MACD indicator is on the 0 axis and slowly moving upward, and the RSI indicator is on the side of the 50 balance line;

Resistance level: 29899 30114

Support level: 29272 29050

Trading strategy: Bullish above 29524, target 29899 30114
Alternative strategy: bearish below 29524, target 29272 29050

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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