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BTC: low position moves down
2022-12-20
1104
Fundamental analysis:
Bitcoin remained volatile around 16601. Grayscale (Grayscale) CEO Michael Sonnenshein stated in a letter to investors that if GBTC cannot be converted into a Bitcoin exchange-traded fund (ETF) in the end, it may propose a review of the existing Bitcoin exchange-traded fund (ETF). Tender Offer for 20% of the $10.7 Billion Trust Fund Issued.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level short-term momentum maintains a slow downward trend, the short-term decline has not stopped, the market bearish sentiment emerges, the MACD indicator is in the short-term area, and the RSI indicator is in the short-term area and moves down slowly;
Long and short turning point: 16660
Suppression: 16791, 16938
Support: 16464, 16324
Trading strategy: bearish below 16660, target 16464, 16324
Alternative strategy: call above 16660, target 16791, 16938
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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