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BTC: low order

2023-09-07
647
Fundamental analysis:

Bitcoin remained volatile near 25675, and the TON Foundation announced its establishment as a non-profit organization in Switzerland. The TON Foundation promises to provide detailed transparency reports that provide a comprehensive overview of Toncoin’s token economics and the token’s historical distribution.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term weak consolidation is maintained at a low level, the market's short sentiment continues, and there are signs of continued weak consolidation and downward movement in the short term. The MACD indicator is in the short area and maintains consolidation, and the RSI indicator is hovering weakly below the 50 equilibrium line;

Resistance level: 26104 26356

Support level: 25437 25222

Trading strategy: Bearish below 25852, target 25437 25222
Alternative strategy: bullish above 25852, target 26104 26356

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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