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BTC: high volatility
2023-02-06
1110
Fundamental analysis:
Bitcoin remained oscillating around 23302. Bitcoin’s 65th wallet address transferred 13,369 BTC this Friday, or about $311 million. Another Ethereum whale transferred 186,009 ETH, or about $309 million. A few hours later, Whale Alert tracked another bitcoin whale transferring 5,278 BTC, worth about $123 million, from cryptocurrency exchange Gate.io to an unknown wallet.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: High short-term volatility, short momentum has signs of waiting for an opportunity to enter the market, a high downward trend is slowly forming, the MACD indicator is in the bullish area to maintain consolidation, and the RSI indicator is oscillating near the 50 balance line;
Long-short turning point: 23432
Suppression: 23671, 23924
Support: 23041, 22803
Trading strategy: bearish below 23432, target 23041, 22803
Alternative strategy: call above 23432, target 23671, 23924
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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