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BTC: low down
2023-03-08
1037
Fundamental analysis:
Bitcoin remained volatile around 22045. Bitcoin mining company Hut 8 Mining produced a total of 156 bitcoins in February, and the 188 bitcoins produced in January were sold in February. As of February 28, the total balance of Bitcoin held by Hut 8 was 9,242, and it is expected to sell the Bitcoin output in February to cover operating costs.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics remain volatile and downward, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the short-selling area and the RSI indicator is in the short-selling area and remains hovering;
Resistance level: 22366 22581
Support level: 21876 21697
Trading strategy: bearish below 22131, target 21876 21697
Alternative strategy: call above 22131, 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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