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BTC: hovering at a low level

2023-02-14
1027
Fundamental analysis:

Bitcoin maintains a shock around 21609. At present, the total market value of US dollar stablecoins is 138.5 billion US dollars, USDT accounts for 49.39%, USDC accounts for 29.76%, and BUSD accounts for 11.63%. Among them, the proportion of USDT has hit a record in the past 14 months new highs.

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



Brief technical analysis:

The 4-hour chart: The short-term momentum remains low and weak, and the short-term decline has not stopped. The market’s short-term sentiment is slowly emerging, and it will continue to move downward in the short term. ;

Long-short turning point: 21681

Press: 21884, 22055
Support: 21439, 21292

Trading strategy: bearish below 21681, target 21439, 21292
Alternative strategy: call above 21681, target 21884, 22055

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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