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BTC: Low position multiple head up

2022-09-29
1267
Fundamental analysis:

Bitcoin remained volatile around 19555. James Butterfill, research director of CoinShares, said on social media that the trading volume of Bitcoin/GBP was 881 million dollars yesterday (an average of 70 million dollars). When the fiat currency was threatened, investors began to favor Bitcoin.


Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the short-term low position fluctuates widely, the bulls wait for the opportunity to enter the field and move up, the MACD index is at the weak position around the first axis 0, and the RSI index is at the 50 balanced line side weak position;


Empty turning point: 19423


Pressing position: 19916, 20241


Support position: 19106, 18754


Trading strategy: 19423 upside bullish, target 19916, 20241


Alternative strategy: 19423 lower bearish, target 19106, 18754

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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