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BTC: high down

2023-03-16
967
Fundamental analysis:

Bitcoin remains volatile near 24370, Morgan Stanley reports that as concerns grow about traditional banks being forced to close in the United States, this should be a shining moment for Bitcoin as the largest holder of the cryptocurrency in private wallets Should be protected from counterparty risk.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum maintains shocks and moves down, the short-term decline may continue, the market's bearish sentiment begins to emerge, the MACD indicator is in the long-term zone and slowly declines, and the RSI indicator is in the long-term zone and moves down weakly;

Resistance level: 24955 25360

Support level: 24013 23620

Trading strategy: bearish below 24588, target 24013 23620
Alternative strategy: call above 24588, target 24955 25360

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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