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BTC: Bulls' strong rise
2022-09-12
1282
Fundamental analysis:
Bitcoin remained volatile around 21157. The US Treasury Department will elaborate on the risks it believes cryptocurrency will pose to consumers and the financial system in a series of reports published this month. The US Treasury Department's report will focus on the analysis of the cryptocurrency market, but will not provide too many specific policy recommendations.
Bitcoin btcusd - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, low-end bulls rose strongly, short-term bullish sentiment emerged, market bulls continued to buy, MACD index kept moving upward in the long region, and RSI index kept high in the long region;
Long short turning point: 21020
Pressing position: 21443, 21731
Support position: 20706, 20430
Trading strategy: bullish above 21020, target 21443, 21731
Alternative strategy: bear below 21020, target 20706, 20430
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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