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BTC: low volatility

2023-08-22
711
Fundamental analysis:

Bitcoin remained oscillating around 26105, and Bitcoin miners are entering new business areas, including providing high-performance computing (HPC) services for the fast-growing artificial intelligence (AI) market to reduce dependence on cryptocurrencies.

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



Brief technical analysis:

Looking at the 4-hour chart: the low level is fluctuating within a narrow range, and the market is shrouded in bearish sentiment. In the short term, it will continue to remain low and weak, the MACD indicator is in the short zone, and the RSI indicator is at the bottom and weak;

Resistance level: 26560 26853

Support level: 25815 25555

Trading strategy: bearish below 26250, target 25815 25555
Alternative strategy: call above 26250, target 26560 26853

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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