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BTC: hovering at a high level

2023-03-30
933
Fundamental analysis:

Bitcoin remained volatile around 28387. Since the news of the CFTC suing Binance, Binance has outflowed $2.2 billion. Binance saw inflows of $1.3 billion during the same period. Nansen Data reporter Martin Lee said the movements were still at a relatively normal level, with no obvious signs of a run.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains at a high level, the market as a whole is in a bullish zone, and there are still signs of sustained volatility in the short term. The MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 balance line.

Resistance level: 28924 29397

Support level: 27663 27172

Trading strategy: Bullish above 28118, target 28924 29397
Alternative strategy: bearish below 28118, target 27663 27172

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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