CM Trade

Download APP to receive bonus

GET

BTC: low order

2023-05-23
892
Fundamental analysis:

Bitcoin remained oscillating around 26892. BXB Capital, a cryptocurrency hedge fund, plans to raise 1,000 bitcoins to launch the fund in July. It has so far raised about 400 bitcoins (approximately $10 million). BXB Capital will focus on margin futures trading, and its trading strategies and investor returns will also be in Bitcoin.

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



Brief technical analysis:

Looking at the 4-hour chart: the market remains low and weak. Although there are bulls waiting for an opportunity to enter the market in the short term, the overall situation is in a weak position, and there is no sign of a final upward move. The offline side is weak and wandering;

Resistance level: 27086 27326

Support level: 26553 26340

Trading strategy: Bullish above 26992, target 27086 27326
Alternative strategy: bearish below 26991, target 26553 26340

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More