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BTC: high down
2022-12-06
1240
Fundamental analysis:
Bitcoin remained oscillating around 16953. According to the latest report from the Brazilian Federal Tax Service (RFB), companies in Brazil continued to buy Bitcoin and cryptocurrencies at record levels. CNPJ single filing data for October 2022 shows that 41,817 Brazilian companies purchased some kind of cryptocurrency in October, a new record higher than the 40,161 companies that announced purchases of cryptocurrency in September.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuated and retreated, and the market’s short-term sentiment waited for an opportunity to enter the market and move down. The short-term decline may continue. The MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 17015
Suppression: 17153, 17284
Support: 16838, 16700
Trading strategy: bearish below 17015, target 17153, 17284
Alternative strategy: call above 17015, target 16838, 16700
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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