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BTC: low short position moves down

Fundamental analysis:

Bitcoin remained volatile near 19839, US Republican Senator Tommy: Congress should intervene to provide guidance for cryptocurrency.

Bitcoin BTCUSD - 4-hour K line diagram display:

Technical analysis:

The 4-hour chart shows that the power of short sellers drops rapidly, the low narrow range consolidation weakness moves downward, and the short-term decline does not stop. The market bears are shrouded in sentiment. MACD indicators remain in the short positions and remain consolidated, while RSI indicators remain in the weak positions below the 50 equilibrium line;

Empty turning point: 19976

Pressing position: 20276, 20624

Support position: 19498, 19141

Trading strategy: 19976 bearish, target 19498, 19141

Alternative strategy: 19976 upper bullish, target 20276, 20624

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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