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BTC: low short position moves down
2022-09-16
1145
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
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