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BTC: low weak shock

Fundamental analysis:

Bitcoin remains volatile around 20161, and bitcoin will be impacted in the deleveraging event in the next one to two quarters. If this happens, there may be a large number of short positions going low, most of which are US dollar margin.

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

Technical analysis:

According to the 4-hour chart, the short power ladder oscillates downward, and the low level is supported and reversed in the short term. However, the market short sentiment is shrouded, and it is still in the low weak position. The MACD indicator is in the short area to maintain the consolidation and translation, and the RSI indicator is in the narrow range of the short area;

Long and short turning point: 20305

Pressing position: 20777, 21116

Support position: 19800, 19468

Trading strategy: bearish below 20305, target 19800, 19468

Alternative strategy: bullish above 20305, targets 20777 and 21116

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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