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BTC: high volatility
2023-03-31
868
Fundamental analysis:
Bitcoin remained volatile around 28147. The Danish Supreme Court ruled in two cases that the profits from the sale of Bitcoins should be taxed. The two cases were for profits from the sale of purchased Bitcoins and profits from the sale of Bitcoins from mining. The court held that investing in digital currencies is speculative in nature and upheld the lower court’s decision.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level remains volatile in the short term, the market as a whole is entangled in a high level order, and there is no final direction guide in the short term, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance: 28653 29191
Support level: 27450 26983
Trading strategy: Bullish above 27970, target 28653 29191
Alternative strategy: bearish below 27970, target 27450 26983
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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