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BTC: low volatility
2023-08-25
769
Fundamental analysis:
Bitcoin remained oscillating around 26027, and Bitcoin rose 3.6% to $26,794 on the day, which was the largest one-day increase since July 13. The gains come after bitcoin's worst week since November and the collapse of crypto exchange FTX, with smaller market-cap coins such as Cardano, Solana and Polygon posting bigger gains.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum fluctuates at a low level, the short-term decline may continue, the market is shrouded in short-term sentiment, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;
Resistance level: 26433 26709
Support level: 25756 25530
Trading strategy: bearish below 26166, target 25756 25530
Alternative strategy: call above 26166, target 26433 26709
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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