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BTC: high volatility

2023-04-06
843
Fundamental analysis:

Bitcoin remained volatile around 28149. According to data from The Block Pro, the average daily trading volume of Grayscale’s Bitcoin trust fund GBTC increased by 67.6% in March to $55 million, a new high since December 2022.

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



Brief technical analysis:

Looking at the 4-hour chart: high-level and wide-range fluctuations continue, and the final direction has not yet been reached in the short term. The market is still in a high-level and wide-range fluctuation trend. The MACD indicator is hovering around the 0 axis, and the RSI indicator is at the 50 balance line.

Resistance level: 28405 28680

Support level: 27759 27529

Trading strategy: Bullish above 28034, target 28405 28680
Alternative strategy: bearish below 28034, target 27759 27529

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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