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BTC: hovering at a high level

2023-03-29
900
Fundamental analysis:

Bitcoin remained oscillating around 27307. A working group of the Digital Euro Association (DEA) released a white paper covering various aspects such as CBDC, privacy and its interaction. Ripple, the official partner of DEA, also participated in the preparation of the report.

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



Brief technical analysis:

Looking at the 4-hour chart: high short-term weak consolidation, the market bearish sentiment has signs of waiting for opportunities to enter the market, but it has not continued to emerge, the MACD indicator is weakly hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Resistance level: 27820 28381

Support level: 26524 26016

Trading strategy: Bullish above 27154, target 27820 28381
Alternative strategy: bearish below 27154, target 26524 26016

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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