BTC: low position weak position finishing moves up

Fundamental analysis:

Bitcoin continued to fluctuate around 19368, and its correlation with the stock market became stronger and stronger. In recent quarters, bitcoin failed to play the role of inflation hedge. Bitcoin will still be a macro driven crypto asset, while the rest of crypto will be regarded as a technology or innovation driven digital asset. With the decline of bitcoin's dominant position in the total crypto market value, the correlation between bitcoin and other tokens will also decline.

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

Technical analysis:

According to the 4-hour chart, after the rapid decline of the low level, the narrow range consolidation began to slowly pull up, and the market's multi headed power began to emerge. MACD stopped in the short area to maintain consolidation, and RSI index was in the short area to maintain oscillation and move upward to hover near the 50 equilibrium line;

Long and short turning point: 19147

Pressing position: 19740, 20165

Support position: 18802, 18437

Trading strategy: bullish above 19147, target 19740, 20165

Alternative strategy: 19147 down bearish, target 18802, 18437