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BTC: high retracement
2023-01-31
1074
Fundamental analysis:
Bitcoin remained volatile around 22751. Bitcoin Magazine quoted Reuters as saying that MasterCard will cooperate with Binance to launch Bitcoin and encryption cards in Brazil.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term shocks and retracements, the market's short-term sentiment began to emerge slowly, and the short-term may remain weak, but the upward trend remains, the MACD indicator is in the bullish area and is slowly finishing, and the RSI indicator is hovering weakly below the 50 balance line;
Long and short turning point: 22980
Suppression: 23344, 23695
Support: 22353, 21951
Trading strategy: bearish below 22980, target 22353, 21951
Alternative strategy: call above 22980, target 23344, 23695
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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