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BTC: Low Position Disadvantage Consolidation

2022-11-17
1331
Fundamental analysis:

Bitcoin kept vibrating around 16535. PeckShield said on Twitter that FTX attackers still had about 74000 BNBs (worth about 20 million dollars) and about 1680000 DAIs on the BNB Chain. The address has already traded about 34000 BNBs into 4500 Ethereum and 3 million BUSDs and cross linked to Ethereum.


Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:

The 4-hour chart shows that after the narrow range shock of low short power, there are signs of continuing to decline, and the short-term decline may continue. The MACD indicator hovers in the weak position below the 0 axis, and the RSI indicator is in the narrow range consolidation below the 50 equilibrium line;

Empty turning point: 16673

Pressing: 17102, 17457

Support: 16230, 15875

Trading strategy: 16673 lower bearish, target 16230, 15875

Alternative strategy: 16673 upside bullish, target 17102, 17457

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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