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BTC: high rise
2023-01-11
1194
Fundamental analysis:
Bitcoin remained volatile around 17467. Encrypted KOL Ali quoted Santiment data as saying that giant whales holding 1,000 to 10,000 BTC were not active in December; but since January 5, giant whales have begun to increase their holdings, and the cumulative BTC holdings have increased About 20,000 pieces were sold. According to Santiment data, these giant whale addresses currently hold a total of 4.57 million BTC, accounting for 23.7% of the circulating supply.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: The bullish dynamics fluctuate and rise at a high level, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering at a high level in the bullish zone;
Long-short turning point: 17427
Suppression: 17524, 17591
Support: 17343, 17261
Trading strategy: Bullish above 17427, target 17524, 17591
Alternative strategy: bearish below 17427, target 17343, 17261
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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