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BTC: low short fell sharply
2022-09-07
1198
Fundamental analysis:
Bitcoin remained volatile around 18958, and the non-profit Human Rights Foundation (HRF) announced that it would provide bitcoin worth 325000 dollars in its latest round of grants. Among them, the largest grant (US $100000) was provided to the open source bitcoin payment processor btcpay server.
Bitcoin btcusd - 4-hour K-line chart shows:
Technical analysis:
From the 4-hour chart, we can see that after a long period of low-level and narrow-range weak consolidation, the short power eventually ushered in a trend of breaking down. The overall short sentiment of the market was good. The MACD index maintained a turbulent and slow decline in the short area, and the RSI index maintained a consolidation in the short area;
Long and short turning point: 19147
Pressing position: 19504, 19843
Support position: 18602, 18316
Trading strategy: 19147 bearish, target 18602, 18316
Alternative strategy: bullish above 19147, targeting 19504 and 19843
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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