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BTC: Low position narrow amplitude oscillation moves up
2022-10-04
1408
Fundamental analysis:
Bitcoin remained volatile around 19561. According to the file submitted to the Securities and Exchange Commission (SEC), New York Digital Investment Group (NYDIG) raised $720 million for its institutional Bitcoin fund. A total of 59 investors contributed, with an average of more than 12 million dollars per person.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that the power of the low bulls kept moving up in a narrow range, and the short-term bulls showed signs of continuing to move up and up. The MACD index hovered in a weak position near the 0 axis, and the RSI index settled in a weak position near the 50 equilibrium line;
Multi empty turning point: 19546
Pressing position: 19995, 20356
Support position: 19229, 18903
Trading strategy: 19546 upside bullish, target 19995, 20356
Alternative strategy: 19546 lower bearish, target 19229, 18903
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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