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BTC: Continuing to soar
2023-02-16
1009
Fundamental analysis:
Bitcoin maintains a medium shock around 24030, and EU banks should start setting a cap on Bitcoin holdings before the global norms formulated by the Basel Committee on Banking Supervision (BCBS) take effect. While cryptocurrencies have yet to have a significant impact on EU banks, banks should treat these assets as risky and limit their holdings immediately, the ECB said.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: Bullish momentum continues to soar, short-term bullish sentiment is shrouded, market bullish momentum continues to rise, and there is no sign of stopping, MACD indicator is in the bullish zone and continues to rise, RSI indicator is in the bullish zone and continues to fluctuate and move up to overbought Finish near the 80 equilibrium line;
Long-short turning point: 23925
Suppression: 24239, 24441
Support: 23722, 23487
Trading strategy: Bullish above 23925, target 24239, 24441
Alternative strategy: bearish below 23925, target 23722, 23487
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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