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BTC: Low level V-shaped oscillation

2022-09-20
518
Fundamental analysis:

Bitcoin maintained the shock around 19503. Fan Yifei, Vice President of the People's Bank of China, mentioned digital RMB and financial technology related topics at the "Opening Ceremony of the Second Yangtze River Delta Digital Financial Industry Innovation Week and Suzhou Financial Support Industry Innovation Cluster Development Conference" on September 19.


Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the bearish momentum remains weak and downward, the low short-term V-shaped shock, the market bearish sentiment remains unchanged, the MACD indicators remain in the bearish area, and the RSI indicators remain weak and hover below the 50 equilibrium line;


Empty turning point: 19652


Pressing position: 20025, 20349


Support position: 19182, 18890


Trading strategy: 19652 lower bearish, target 19182, 18890


Alternative strategy: 19652 upper bullish, target 20025, 20349

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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