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BTC: low rise

2023-05-18
933
Fundamental analysis:

Bitcoin remained oscillating around 27337. According to MagicEden market data, the floor price of Bitcoin ecological NFTBitcoinFrogs rose to 0.099BTC, and the total transaction volume was nearly 120BTC. BitcoinFrogs are digital collectibles minted directly on the Bitcoin blockchain with a total supply of 10,000.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum is rising strongly, the market is bullish, and the short-term bullish momentum continues to move upwards, and there is a trend of continuing to move upward. The MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing above the 50 balance line. ;

Resistance level: 27594 27854

Support level: 26941 26707

Trading strategy: Bullish above 27186, target 27594 27854
Alternative strategy: bearish below 27186, target 26941 26707

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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