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BTC: low position moves down

Fundamental analysis:

Bitcoin has remained volatile around 20015, and the difficulty of Bitcoin mining has been raised by 1.16% to 43.55T, a record high. The current average computing power of the entire network is 313.26 EH/s.

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

Brief technical analysis:

Looking at the 4-hour chart: The low-level short-term momentum continues to fluctuate and move down, the short-term decline has not stopped, the market as a whole is in a continuous downward trend, the MACD indicator is in the low position of the short area, and the RSI index is in the low position of the short area.

Resistance level: 20176 20863

Support level: 19684 19414

Trading strategy: bearish below 20176, target 19684 19414
Alternative strategy: call above 19414, target 20176 20863

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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