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BTC: low rise

Fundamental analysis:

Bitcoin remained volatile around 27346. The Group of Seven (G7) Intergovernmental Political Forum has stated that it will commit to implementing the Financial Stability Board (FSB)'s upcoming encryption asset regulatory norms and the International Monetary Fund's (IMF) regulations on central bank digital currencies. suggestion. G7 finance ministers and central bank governors announced that they had discussed crypto asset regulation at a meeting in Niigata, Japan, on Saturday ahead of next week's G7 summit.

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

Brief technical analysis:

Looking at the 4-hour chart: After the low-level bullish momentum rose strongly, the short-term bullish sentiment began to weaken, but the upward trend remained, the MACD indicator was in the bearish area and moved up, and the RSI indicator was hovering weakly near the 50 balance line;

Resistance level: 27616 27863

Support level: 26984 26773

Trading strategy: Bullish above 27231, target 27616 27863
Alternative strategy: bearish below 27231, target 26984 26773

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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