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BTC: Oscillation moves up

2022-11-16
519
Fundamental analysis:

Bitcoin remained volatile around 16859. CoinCloud, the Bitcoin ATM operator, has hired M-III Partners and B Riley Securities consultants to restructure its $125 million debt.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the power of low position bulls moves up, and the space for bulls to move up starts to weaken. The MACD indicator is in the short position and moves up, while the RSI indicator is in the weak position below the 50 equilibrium line;


Empty turning point: 16673


Pressing: 17201, 17600


Support: 16,286, 15,919


Trading strategy: 16673 top bullish, target 17201, 17600


Alternative strategy: 16673 bearish, target 16286, 15919

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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