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BTC: Low position narrow range finishing
2022-10-03
1406
Fundamental analysis:
Bitcoin remained volatile around 19655. Santiment said on social media that 34723 bitcoins flowed out of the exchange on September 30, indicating that it may be a sign of confidence of traders entering the fourth quarter. The last time so many BTCs left the exchange was on June 17, and the price rose by 22% in the next four weeks.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that after the consolidation of low narrow range shocks, the bull power has the sign of waiting for an opportunity to enter the field. In the short term, it is still in a low weak position. The MACD index is in a weak position near the axis 0, and the RSI index is in a narrow position above the 50 balanced 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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