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BTC: Multi head high position up

2022-11-07
553
Fundamental analysis:

Bitcoin remained volatile around 20933. Charles Edwards, founder of Capriole Investment, wrote that the unrealized net profit and loss (NUPL) of Bitcoin was showing the loss of long-term holders, and the market entered the surrender area (red), which only appeared once every four years in the past.




Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that after the short-term narrow range shock and translation, the bulls are waiting for the opportunity to enter the market and pull up, and the market bullish sentiment starts to emerge. The MACD index is in the market shock on the axis 0, and the RSI index is in the upper side of the 50 equilibrium line and slowly rises;


Empty turning point: 20838


Pressing: 21143, 21328


Support: 20623, 20403


Trading strategy: 20838 top bullish, target 21143, 21328


Alternative strategy: 20,838 bearish, target 20,623, 20,403

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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