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BTC: High level sorting

2022-11-04
1275
Fundamental analysis:

Bitcoin remained volatile around 20,221. The mining production and operation of encryption mining enterprise Hut 8 Mining Corp. were updated in October. As of October 31, 299 bitcoins had been produced, with an average of 9.6 bitcoins produced every day. In October, 100% of the self mined bitcoins were deposited in custody, and the total balance of the reserved bitcoins was 8687.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that after the short-term pullback of the high level, the market bears show signs of waiting for opportunities to enter the market. The MACD indicator is at the lower side of the 0 axis and the RSI indicator is at the lower side of the 50 equilibrium line;


Empty turning point: 20251


Pressing: 20503, 20726


Support: 19943, 19725


Trading strategy: 20,251 bearish, target 19,943, 19,725


Alternative strategy: 20251 upside bullish, target 20503, 20726

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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