CM Trade

Download APP to receive bonus

GET

BTC: High bit slow downlink

2022-11-03
1359
Fundamental analysis:

Bitcoin remained volatile around 20159. The Swiss Financial Market Regulatory Authority (Finma) reported that the potential anonymity, the speed of transactions and the cross-border nature of transactions increased the money laundering risk in the virtual currency field.


Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the high short-term maintenance range is adjusted and shifted, the short market sentiment slowly enters the market, and the weak moves downward. The MACD indicator is in the long area, and it is maintained and adjusted downward to hover around the 0 axis, while the RSI indicator is in the weak consolidation below the 50 equilibrium line;


Empty turning point: 20251


Pressing: 20503, 20726


Support: 19943, 19725


Trading strategy: 20251 bearish, target 19943, 19725


Alternative strategy: 20,251 upside bullish, target 20,503, 20,726

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More