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BTC: Consolidating the downside
2023-03-01
969
Fundamental analysis:
Bitcoin maintains a shock around 23060. Bitcoin mining company TeraWulf is building a nuclear-powered mining facility and named it Nautilus. If Nautilus can run at full capacity later in Q1 this year, the 15,000 mining devices it hosts will have a computing power of 1.6 EH/s, accounting for about 0.54% of the current total computing power of the entire Bitcoin mining network.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term range shocks, the short-term momentum maintains shocks and moves down. The market’s short-term sentiment remains, and the short-term decline may continue. The MACD index is hovering below the 0 axis, and the RSI index is below the 50 balance line.
Long-short turning point: 23179
Suppression: 23446, 23683
Support: 22809, 22564
Trading strategy: bearish below 23179, target 22809, 22564
Alternative strategy: call above 23179, target 23446, 23683
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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