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BTC: high volatility

2023-01-18
1012
Fundamental analysis:

Bitcoin remained volatile around 21191. Bank of America (Bank of America) stated in a research report that digital currencies such as central bank digital currency (CBDC) and stable coins are the natural evolution of money and payments. Central bank digital currencies have the potential to revolutionize the global financial system and possibly the most significant technological advancement in monetary history.

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



Brief technical analysis:

4-hour chart: high short-term narrow range arrangement, the market is still bullish, the MACD indicator is hovering at a high level in the bullish area, and the RSI indicator is in the high-level overbought area of ​​the bullish area near the 80 balance line;

Long and short turning point: 21196

Repression: 21557, 21825
Support: 20928, 20662

Trading strategy: Bullish above 21196, target 21557, 21825
Alternative strategy: bearish below 21196, target 20928, 20662

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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