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BTC: low and weak

2022-08-24
1325
Fundamental analysis:

Bitcoin remained volatile around 21465. After the poor performance in the second quarter, Cowen, an investment bank, lowered the revenue, adjusted EBITDA and mining profit margin of Marathon digital holdings (Mara), a bitcoin mining enterprise, and warned the company of its ambitious computing goals.




Bitcoin btcusd - 4-hour K-line diagram shows:




Technical analysis:


According to the 4-hour chart, the low-level weak position has shifted, and the market bulls have started to enter slowly, but they are still in a weak position. The MACD indicator keeps moving slowly upward in the short position, and the RSI indicator keeps wandering in a weak position in the short position;


Long and short turning point: 21325


Pressing position: 21837, 22171


Support position: 21006, 20719


Trading strategy: bullish above 21325, target 21837, 22171


Alternative strategy: bearish below 21325, targets 21006 and 20719

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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