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BTC: highs move down
2023-03-28
904
Fundamental analysis:
Bitcoin remained volatile around 27039. The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit in Chicago federal court on Monday for alleged violations of trading and derivatives rules, suing the trading platform Binance and its CEO Zhao Changpeng, adding another case against the U.S. government Initiatives for digital currency operations.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high-level short momentum maintains a narrow range and moves slowly downward. The market’s short sentiment begins to emerge slowly. There are signs of continued downward movement in the short term. The MACD indicator is in the bullish area and slowly moves down to around the 0 axis. The RSI indicator is at a balance of 50 Weakness on the offline side;
Resistance level: 27820 28381
Support level: 26524 26016
Trading strategy: bearish below 27312, target 26524 26016
Alternative strategy: call above 27312, target 27820 28381
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