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BTC: Lower lows
2023-09-10
476
Fundamental analysis:
Bitcoin remained volatile around 25784. U.S. Republican Senator Ted Cruz said on social media that Texas is the center of employment, innovation and freedom, making it a natural oasis for Bitcoin mining. These operations increase the resiliency of our grid because they can shut down during severe weather and release power to heat or cool homes.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low level fluctuates downward, and the short-term decline may continue. In the overall short trend of the market, the MACD indicator is hovering weakly near the 0 axis, and the RSI indicator is weakly consolidating below the 50 equilibrium line;
Resistance level: 26051 26241
Support level: 25597 25437
Trading strategy: Bearish below 25873, target 25597 25437
Alternative strategy: bullish above 25873, target 26051 26241
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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