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BTC: low order

2023-05-10
872
Fundamental analysis:

Bitcoin remained oscillating around 27653, and the floor price of the NFT project BitcoinPizzas on the Bitcoin chain rose dozens of times within a few hours, from 0.0026BTC 4 hours ago to a single transaction of 0.078BTC. Previously, Binance announced that its NFT market will support the Bitcoin NFT protocol Ordinals by late May, and customers will be able to buy and sell Ordinals without using a separate Bitcoin wallet.

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



Brief technical analysis:

The 4-hour chart: the low position is in a narrow range, the market’s bearish sentiment has weakened, the bulls have signs of entering the market, the MACD index is in the short area to maintain consolidation, and the RSI index is hovering weakly below the 50 balance line;

Resistance level: 27926 28178

Support level: 27337 27112

Trading strategy: Bullish above 27573, target 27926 28178
Alternative strategy: bearish below 27573, target 27337 27112

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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