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BTC: high volatility

2023-01-26
489
Fundamental analysis:

Bitcoin remained oscillating around 22975. Affected by the bear market, the installation of new Bitcoin ATMs around the world hit a record low. The number of encrypted ATMs in Australia is still rising rapidly. Australia currently has 234 encrypted ATMs, ranking third in the world after the United States and Canada. The United States has 33,387 encrypted ATMs, and Canada has 2,556 encrypted ATMs, which together account for 94.4% of the world's total.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level is in a narrow range, the market is still bullish, and it may rise further in the short term, the MACD indicator is in the long-term zone, and the RSI indicator is in the long-term zone;

Long and short turning point: 22875

Suppression: 22395, 23702
Support: 22558, 22263

Trading strategy: Bullish above 22875, target 22395, 23702
Alternative strategy: bearish below 22875, target 22558, 22263

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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