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BTC: oscillating down

2023-06-01
767
Fundamental analysis:

Bitcoin remained volatile around 27111, the cryptocurrency infrastructure company AnomaFoundation completed a financing of US$25 million, led by CMCCGlobal. AnomaFoundation currently manages Namada, a blockchain focused on multi-chain privacy, and Anoma, a privacy protection protocol.

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



Brief technical analysis:

The 4-hour chart: the market is shrouded in bearish sentiment, and the short-term short-term momentum continues to fluctuate downward. Although there is a short-term support reversal, the downward trend is good. The MACD index maintains the shock and moves down to the 0 axis. weak finishing;

Resistance: 27370 27969

Support level: 26942 26787

Trading strategy: bearish below 27200, target 26942 26787
Alternative strategy: call above 27200, target 27370 27969

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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