BTC: high volatility

Fundamental analysis:

Bitcoin remained oscillating around 17130. The current total value of securities products with BTC and ETH as underlying assets is 9.554 billion US dollars, an increase of 306.45% from the previous day. Among them, securities products with BTC as the underlying asset held 141,025 Bitcoins, accounting for 1.3% of the BTC market value, an increase of 541 BTCs from last week; securities products with ETH as the underlying asset held Ethereum dropped to 4.14 million, It accounts for 3.47% of the market capitalization of ETH.

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

Brief technical analysis:

Looking at the 4-hour chart: the high level is fluctuating within a narrow range, and the market’s short-term momentum has signs of waiting for an opportunity to enter the market. The MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing on the side of the 50 balance line;

Long-short turning point: 17168

Suppression: 17306, 17420

Support: 17010, 16901

Trading strategy: bearish below 17168, target 17010, 16901

Alternative strategy: call above 17168, target 17306, 17420