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BTC: oscillating down

2022-12-28
587
Fundamental analysis:
Bitcoin remains oscillating around 16652. According to data from Glassnode, an on-chain analysis company, short-term and long-term investors in Bitcoin currently have more unrealized losses than ever before. According to the latest data, as of December 26, the unrealized losses of short-term Bitcoin holders (STH) totaled 1,889,585 BTC, and the total unrealized losses of long-term Bitcoin holders (LTH) totaled 6,057,858 BTC.

Bitcoin BTCUSD - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are oscillating and retracing, the short-term decline may continue, the market as a whole is in a weak position, and the low level is being sorted out, the MACD indicator is hovering below the 0 axis, and the RSI indicator is under the 50 balance line.
Long and short turning point: 16705
Suppression: 16849, 16977
Support: 16524, 16403
Trading strategy: bearish below 16705, target 16524, 16403
Alternative strategy: call above 16705, target 16849, 16977

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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