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BTC: high order
2023-03-21
864
Fundamental analysis:
The notional value of Bitcoin (BTC) futures open interest has reached a yearly high of $12 billion, up 7% for the month. An increase in open interest means new money is flowing into the market, but it doesn't tell whether traders are preparing for higher or lower prices.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bulls continue to fluctuate and rise, and the short-term highs are blocked, and the market is still bullish.
Resistance: 28680 29188
Support level: 27318 26780
Trading strategy: Bullish above 27822, target 28680 29188
Alternative strategy: bearish below 27822, target 27318 26780
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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