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BTC: high down

2022-12-08
1329
Fundamental analysis:
Bitcoin remained oscillating around 16815, and the European Central Bank is prototyping the digital euro. The objective of this event is for market players to develop a front-end prototype that can be integrated with the back-end infrastructure developed by the European system.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are oscillating downward in a stepwise manner, the short-term decline may continue, the market is in a good position, and the market’s short sentiment remains, the MACD indicator is hovering around the 0 axis, and the RSI indicator is below the 50 balance line.
Long and short turning point: 16890
Suppression: 17029, 17153
Support: 16700, 16576
Trading strategy: bearish below 16890, target 16700, 16576
Alternative strategy: call above 16890, target 17029, 17153

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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