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BTC: High level vibration moves up
2022-10-31
1194
Fundamental analysis:
Bitcoin remained volatile around 20615. The cryptocurrency industry was at a high level in early 2022, and then fell into a bear market, characterized by the collapse of several projects and macroeconomic factors. However, despite the existing market conditions, new encryption projects do not seem to be worried because they continue to join the market.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that after the short-term retreat of the high level, the bulls wait for opportunities to enter the market and pull up. The short-term bullish sentiment remains, and the market bulls are in good shape. The MACD index is in the bulls' area and the RSI index is in the 50 balanced online side;
Multi empty turning point: 20573
Pressing: 20,807, 21,006
Support: 20,401, 20,196
Trading strategy: 20573 is bullish, target 20807, 21006
Alternative strategy: 20573 bearish, target 20401, 20196
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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