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BTC: Downward from lows

2023-09-12
632
Fundamental analysis:

Bitcoin remains fluctuating around 25093. Hong Kong-listed company China Carbon Neutral announced that its subsidiary China Carbon Green Letter Technology has signed an exclusive operating cooperation agreement with the Zhengzhou Data Trading Center for the dual carbon zone. The two parties will jointly build the country's first blockchain-based The dual carbon data account system allows more companies and third-party service agencies to be willing to publish and use carbon data in compliance with regulations.

Bitcoin BTCUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum remains low and fluctuates downward, the short-term decline may continue, the market is shrouded in bearish sentiment, the short-term decline continues, the MACD indicator is in the short area and remains weak, and the RSI indicator is in the short area and maintains consolidation;

Resistance level: 25379 25572

Support level: 24906 24749

Trading strategy: Bearish below 25193, target 24906 24749
Alternative strategy: bullish above 25193, target 25379 25572

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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