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BTC: Low level wandering

2022-11-21
1359
Fundamental analysis:

Bitcoin remained volatile around 16643. According to BitinfoCharts data, the current address of the third largest Bitcoin giant whale (starting with 1LQoWi) holds 141664 BTCs, worth US $2.358 billion. The whale site had a net outflow of 1800 BTCs in the past week, and a cumulative inflow of 4911 BTCs since November.


Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:

The 4-hour chart shows that the low position is weak in the short term, the market's empty momentum weakens, the amplitude space gradually narrows, the MACD index hovers under the 0 axis, and the RSI index is sorted under the 50 equilibrium line;

Empty turning point: 16,542

Pressing: 17102, 17457

Support: 16230, 15875

Trading strategy: 16542 upside bullish, target 17102, 17457

Alternative strategy: 16542 lower bearish, target 16230, 15875

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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