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BTC: low weak shock

2022-08-31
538
Fundamental analysis:

Bitcoin kept fluctuating around 19959. According to the data of coinmarketcap, the defi tokens in Lido Finance (LDO), compound (COMP) and synthetix (SNx) have made significant gains in the past 24 hours. Among them, the native token LDO of Lido finance has increased by more than 10% in 24 hours.



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




Technical analysis:


According to the 4-hour chart, the low-level narrow range oscillates and shifts, the downward trend of short positions in the market continues, and the short-term short positions continue to move downward. The MACD indicator maintains the consolidation and shift in the short area, and the RSI indicator is weak in the short area;


Long and short turning point: 20187


Pressing position: 20620, 20996


Support position: 19560, 19230


Trading strategy: bearish below 20187, target 19560, 19230


Alternative strategy: bullish above 20187, target 20620, 20996

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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