CM Trade

Download APP to receive bonus

GET

BTC: low order

2023-08-23
792
Fundamental analysis:

Bitcoin maintains a shock around 25861. According to Coinglass data, the current total position value of Grayscale is about 23.653 billion US dollars, of which the negative premium rate of Grayscale Bitcoin Trust Fund (GBTC) is 26.83%; the negative premium rate of ETH Trust is 34.62% . In addition, the negative premium of ETC Trust is 52.69%, and the negative premium of LTC Trust is 29.02%.

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



Brief technical analysis:

The 4-hour chart shows that the low level remains weak, the market is shrouded in bearish sentiment, and there is a trend of continuing to move downward in the short term. The MACD indicator is in the short-term area and the RSI indicator is hovering above the 15 balance line at the bottom;

Resistance level: 26259 26560

Support level: 25606 25361

Trading strategy: bearish below 25991, target 25606 25361
Alternative strategy: call above 25991, target 26259 26560

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