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BTC: low order

2023-03-07
1026
Fundamental analysis:

Bitcoin remained oscillating around 22332. PeckShield statistics show that Mt.Gox creditors may receive repayments from March 10. It is unclear how much Bitcoin will be distributed to creditors during this period.

Bitcoin BTCUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum remains weak, the market as a whole is in a weak position, and there are signs of continued downward movement in the short term, the MACD indicator is in the short-term area and the RSI indicator is hovering weakly below the 50 balance line;

Resistance level: 22742 23016

Support level: 22098 21876

Trading strategy: bearish below 22490, target 22098 21876
Alternative strategy: call above 22490, target 22742 23016

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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