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BTC: Low level oscillation
2022-11-14
1336
Fundamental analysis:
Bitcoin remained volatile around 16838. According to Forbes, the FTX thunderstorm is destroying the Solana NFT ecosystem and triggering a wave of selling. According to public data, the NFT trading volume of Magic Eden, OpenSea and Solanart in the Solana NFT market on the chain has more than doubled from more than 80000 a day a week ago, to more than 250000 at one time, indicating that the holder is selling NFT quickly.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that after the short-term narrow consolidation of the low position, the market continues to fall short, and the short-term downward trend may continue. The MACD indicator is in the short position area for consolidation, and the RSI indicator is in the weak position in the short position area;
Empty turning point: 17029
Pressing: 17406, 17805
Support: 16469, 16135
Trading strategy: 17029 lower bearish, target 16469, 16135
Alternative strategy: 17029 upper bullish, target 17406, 17805
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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