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BTC: highs move down
2023-03-23
903
Fundamental analysis:
Bitcoin remained volatile around 27388. Binance founder CZ (Changpeng Zhao) said on social media, "Bitcoin has no policy changes, and the maximum supply is still 21 million, which is mathematically stable. What is unstable is its price, which is Market/need driven, that's a characteristic."
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: After the high short-term consolidation, the short-term momentum entered the market and continued to fall. The short-term decline may continue. The market as a whole is in a downward trend of short positions. The MACD indicator is in the bullish zone and slowly declines. The RSI indicator oscillates and retreats to the 50 balance line Organize nearby;
Resistance level: 28223 28819
Support level: 26780 26173
Trading strategy: bearish below 27698, target 26780 26173
Alternative strategy: call above 27698, target 28223 28819
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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