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BTC: Bulls rise
2022-10-27
1195
Fundamental analysis:
Bitcoin remained volatile around 20731. ProShares Bitcoin Strategy (BITO), the first Bitcoin futures ETF in the United States launched by asset management company ProShares in October 2021, had dropped 70% a year after its launch, and its 70% share price decline also made it the sixth worst performing ETF in history.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that the bulls' momentum remains volatile and rising, and short-term bullish sentiment is shrouded. There is no sign of market bulls stopping. The MACD index is at the high level in the bulls' region, and the RSI index is hovering below the 80 equilibrium line in the bulls' region's overbought area;
Empty turning point: 20641
Pressing: 20921, 21115
Support: 20441, 20242
Trading strategy: 20641 upside bullish, target 20921, 21115
Alternative strategy: 20641 bearish, target 20441, 20242
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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