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BTC: High level sorting

2022-11-08
1388
Fundamental analysis:

Bitcoin remained volatile around 20668. Canada continued to improve its Bitcoin ATM installation rate. Coin ATM Radar's data now shows a year-on-year growth of 28%. The number of Bitcoin ATMs in Canada is 2549, compared with less than 2000 at this time last year.


Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that high short-term narrow range consolidation, market bearish sentiment has signs of opportunistic entry, MACD index is in the long area of consolidation and translation, and RSI index is in the 50 balanced online side of wandering;


Empty turning point: 20733


Pressing: 20,908, 21,078


Support: 20,488, 20,313


Trading strategy: 20733 lower bearish, target 20488, 20313


Alternative strategy: bullish above 20733, target 20908, 21078

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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