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BTC: Low position narrow range finishing

2022-09-30
1231
Fundamental analysis:

Bitcoin remained volatile around 19491. BTC.com data shows that the number of unconfirmed transactions in Bitcoin across the network is 13454, the computing power of the whole network is 222.96EH/s, and the 24-hour transaction rate is 2.98 transactions/s. At present, the difficulty of the whole network is 31.36T. It is predicted that the difficulty will increase by 1.5% to 31.83T next time, 12 days and 10 hours from the adjustment.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the low position has been reorganized in a short term and wide range, and the bull power has begun to slowly wait for the opportunity to enter the market. The market is still in a low position, the MACD index is weak and hovering near the 0 axis, and the RSI index is narrow and reorganized near the 50 equilibrium line;


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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