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BTC: high down

2023-01-19
555
Fundamental analysis:

Bitcoin remained volatile around 20774. Web3 enterprise chat tool developer Protico announced the completion of the Pre-Seed round of financing. The specific amount has not been disclosed yet. Currency wallet Blocto co-founder Hsuan Lee and others participated in the investment.

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



Brief technical analysis:

Looking at the 4-hour chart: After the high short-term narrow-range consolidation, the short-term momentum is waiting for an opportunity to move down, and the short-term decline may continue. The MACD indicator is in the long-term area and the RSI indicator is in the long-term area.

Long-short turning point: 20922

Suppression: 21219, 21557
Support: 20495, 20197

Trading strategy: bearish below 20922, target 20495, 20197
Alternative strategy: call above 20922, target 21219, 21557

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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