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BTC: high order

2023-01-24
1095
Fundamental analysis:

Bitcoin remained volatile around 22950, and Hong Kong company Red Date Technology launched the "Universal Digital Payment Network" (UDPN). The UDPN white paper shows that the product is a DLT platform, which will connect transactions between stablecoins and CBDCs in a manner similar to bank SWIFT.

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



Brief technical analysis:

Looking at the 4-hour chart: the bulls’ dynamics fluctuate upwards, the short-term bullish sentiment remains, the market’s bulls’ momentum is not only pulling up, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering near the 80 balance line in the high overbought zone in the bullish zone;

Long and short turning point: 22785

Suppression: 23238, 23570
Support: 22388, 22070

Trading strategy: Bullish above 22785, target 23238, 23570
Alternative strategy: bearish below 22785, target 22388, 22070

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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