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BTC: low position moves down

Fundamental analysis:

Bitcoin maintains a shock around 26294. data shows that the current Bitcoin network computing power has reached 357.98EH/s and returned to a historical high. The 24-hour transaction rate is 6.63 transactions/s. The current difficulty of the entire network is 48.01T. The secondary difficulty has been lowered by 2.02% to 48.98T, and there are 4 days left before the adjustment.

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

Brief technical analysis:

The 4-hour chart: After the low level continued to fluctuate and move down, it began to sort out within a narrow range. The market is shrouded in bearish sentiment, and it will continue to move downward in the short term.

Resistance level: 26694 26949

Support level: 26083 25857

Trading strategy: bearish below 26454, target 26083 25857
Alternative strategy: call above 26454, target 26694 26949

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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