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BTC: Continues to decline
2023-02-13
992
Fundamental analysis:
Bitcoin remains oscillating around 21759, Bitcoin’s valuation models are diverging, and sometimes all models converge on roughly the same value (2011, 2013, 2017). Now, models based on difficulty and utxo (and BTC price) show much lower value than models based on S2F-ratio and time.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fluctuated downwards at a low level, the short-term decline has not stopped, the market's bearish sentiment remains, the MACD indicator is in the bearish area and the RSI indicator is in the bearish area and remains hovering;
Long and short turning point: 21830
Press: 22022, 22164
Support: 21590, 21439
Trading strategy: bearish below 21830, target 21590, 21439
Alternative strategy: call above 21830, target 22022, 22164
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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