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BTC: hovering at a low level

2023-03-09
1045
Fundamental analysis:

Bitcoin remained volatile around 22073. Amundi, Europe's largest asset management company with a market value of $2 trillion, said: "If the inflation rate remains above the target, the limited supply of Bitcoin may attract more attention."

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



Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum is weak and hovering, and the short-term maintenance is low. The market as a whole is in a weak position, the MACD indicator is hovering in the short-selling area, and the RSI indicator is under the 50 balance line for consolidation;

Resistance level: 22366 22581

Support level: 21876 21697

Trading strategy: bearish below 22121, target 21876 21697
Alternative strategy: call above 22121, target 22366 22581

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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