CM Trade

Download APP to receive bonus

GET

BTC: Hovering in weakness

2023-09-06
655
Fundamental analysis:

Bitcoin remains volatile around 25707. The Bitcoin non-profit organization Btrust acquired Qala, an organization dedicated to training African Bitcoin and Lightning Network engineers. The transaction was completed on September 1, and Qala was renamed BtrustBuildersProgramme.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum remains low and weak, and there are signs of continued downward movement in the short term. The market is shrouded in bearish sentiment, the MACD indicator is in the short zone and maintains consolidation, and the RSI indicator is weak and hovering below the 50 equilibrium line;

Resistance level: 26104 26356

Support level: 25437 25222

Trading strategy: bearish below 25852, target 25437 25222
Alternative strategy: call above 25852, target 26104 26356

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More