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BTC: High adjustment

2023-05-30
806
Fundamental analysis:

Bitcoin remained volatile around 27686. Xinhuo Technology Holdings announced that it noticed that the cryptocurrency exchange Huobi had tweeted on May 26, 2023, announcing that Huobi Hong Kong "HuobiHongKong" was preparing to provide users with cryptocurrency trading services. The Board of Directors of Xinhuo Technology clarified that Xinhuo Technology has no business or equity relationship with Huobi Hong Kong.

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



Brief technical analysis:

Looking at the 4-hour chart: short-term highs fluctuated and retreated, the market’s bear sentiment showed signs of waiting for an opportunity to enter the market, bull buying began to weaken, the MACD indicator was in the bullish zone, and the RSI indicator was hovering in the bullish zone;

Resistance level: 27885 28084

Support level: 27375 27214

Trading strategy: Bullish above 27554, target 27885 28084
Alternative strategy: bearish below 27554, target 27375 27214

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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