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BTC: low weak narrow range finishing

2022-09-01
1263
Fundamental analysis:

Bitcoin keeps fluctuating around 20181. According to dune data, the number of interactions of smart contracts on most blockchain networks is less than 10, especially BNB chain and Ethereum. Among them, the proportion of BNB chain is 97.7% (107667592) and that of Ethereum is 95.1% (36152963).



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




Technical analysis:


According to the 4-hour chart, the short-term market sentiment continues, the short-term entanglement is low and weak, the amplitude space is narrowed, the MACD index is in the short area, and the consolidation translation is maintained, and the RSI index is in the lower side of the 50 equilibrium line;


Long and short turning point: 20004


Pressing position: 20620, 20996


Support position: 19560, 19230


Trading strategy: bullish above 20004, target 20620, 20996


Alternative strategy: bearish below 20004, target 19560, 19230

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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