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BTC: Climb to High
2022-12-14
1100
Fundamental analysis:
Bitcoin remained volatile around 17731. According to the Goldman Sachs report, Bitcoin is more susceptible to financial conditions than gold. Tight financial conditions are expected to weigh on bitcoin user adoption, making it less likely that the cryptocurrency will repeat the strong returns of the past decade. It is expected that as financial conditions tighten in the future, speculative interest in Bitcoin may decline.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has climbed to a high level, short-term bullish sentiment is shrouded, the market bulls continue to rise and then sort out, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is hovering at the high level in the bullish zone;
Long and short turning point: 17675
Repression: 17851, 17976
Support: 17542, 17425
Trading strategy: Bullish above 17675, target 17851, 17976
Alternative strategy: bearish below 17675, target 17542, 17425
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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