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BTC: low weak narrow down

2022-09-06
518
Fundamental analysis:

Bitcoin remained volatile around 19739, and the total outflow of bitcoin investment products was 11 million US dollars, the fourth consecutive week. Short bitcoin investment products flowed in a record $18 million, bringing the total asset management scale to a historical high of $158 million.



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




Technical analysis:


From the 4-hour chart, it can be seen that the low-level narrow range consolidation translation has been maintained for a long time, the market short power is waiting for the opportunity to enter the market and move slowly downward, the MACD index is in the weak position below the 0 axis, and the RSI index is in the narrow range consolidation below the 50 equilibrium line;


Long and short turning point: 19927


Pressing position: 20280, 20624


Support position: 19359, 19066


Trading strategy: bearish below 19927, targeting 19359 and 19066


Alternative strategy: bullish above 19927, targeting 20280 and 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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