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BTC: Low short position falls again

2022-09-28
1314
Fundamental analysis:

Bitcoin remained volatile near 19062. According to the OKLink multi chain browser of the OkLink chain, since September, the address of the third largest whale in Bitcoin (beginning with 1LQo) has increased its holdings of 3378 BTCs. At present, the address holds 139282.78 BTCs, which is worth more than 2.819 billion US dollars at the current price.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the rise of low bulls with narrow amplitude shocks is blocked and retreats, and the short market sentiment is shrouded. The short-term decline may move down again. The MACD indicator hovers at the upper side of the 0 axis and the RSI indicator is at the lower side of the 50 equilibrium line;


Empty turning point: 19141


Pressing position: 19475, 19801


Support position: 18754, 18437


Trading strategy: 19141 bearish, target 18754, 18437


Alternative strategy: 19141 upside bullish, target 19475, 19801


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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