CM Trade

Download APP to receive bonus

GET

BTC: low volatility

2023-01-02
1138
Fundamental analysis:
Bitcoin remained oscillating around 16515. Bitcoin miners generated about $460 million in revenue in December 2022, down from $473 million in November, a monthly drop of 2.75%. In addition, in December, $451 million of Bitcoin miners' income came from block subsidy rewards, and only $9.11 million came from transaction fees.



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



Brief technical analysis:
Looking at the 4-hour chart: the low-level and narrow-range shocks are slowly descending, the market as a whole is in a weak position, and there is a trend of further downward movement, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long and short turning point: 16582
Suppression: 16705, 16839
Support: 16398, 16297
Trading strategy: bearish below 16582, target 16398, 16297
Alternative strategy: call above 16582, target 16705, 16839

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More