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BTC: hovering at a high level

2023-03-22
906
Fundamental analysis:

Bitcoin remained volatile around 28,146. Bitfarms produced 1,434 BTCs in the fourth quarter of last year, a total of 5,167 for the whole year. Since the establishment of the company to February this year, the accumulated toad has exceeded 20,000 BTCs; the average direct production cost of each BTC in 2022 is $10,000; Q4 2022 net loss of $17 million.

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



Brief technical analysis:

Looking at the 4-hour chart: after the bullish momentum continued to fluctuate and rise, the high level was sorted out within a narrow range, the market as a whole was in a bullish trend, the MACD indicator was hovering at a high level in the bullish area, and the RSI indicator was weakly sorted above the 50 balance line;

Resistance: 28680 29188

Support level: 27318 26780

Trading strategy: Bullish above 27822, target 28680 29188
Alternative strategy: bearish below 27822, target 27318 26780

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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