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BTC: Falling high

Fundamental analysis:

Bitcoin remained oscillating around 24193. According to the Bitfinex Alpha report, the data shows that the Fed may raise interest rates by more than 25 basis points in the future. Inflation accelerated in January this year, and although the headline CPI fell year-on-year, some categories of consumer spending showed continued inflation.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum has fallen sharply, the short-term decline has not stopped, the market bearish sentiment has emerged, the MACD indicator is in the long zone and slowly moving down, and the RSI indicator is in the bullish zone and moves down to hover around the 0 axis;

Long-short turning point: 24313

Compression: 24550, 24809
Support: 23987, 23772

Trading strategy: bearish below 24313, target 23987, 23772
Alternative strategy: call above 24313, target 24550, 24809

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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