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BTC: Pulling up at a high level

Fundamental analysis:

Bitcoin maintains a shock around 24521. Jameson Lopp, chief technology officer of Bitcoin hosting company Casa, said that the rise of Bitcoin NFT is caused by an encrypted bear market. Since the price of Bitcoin has been at a low level, the price of Bitcoin block space is low. If it is in a bull market Among them, the expensive transaction fee will make the Ordinals protocol pay thousands of dollars to mint Bitcoin NFT, so more people will choose to give up.

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

Brief technical analysis:

Looking at the 4-hour chart: the momentum of the bulls has once again pulled up strongly, the market is bullish, the short-term bulls continue to climb, the MACD indicator is in the high position of the bullish zone, and the RSI indicator is in the bullish zone and slowly rising;

Long-short turning point: 24391

Suppression: 24780, 25059
Support: 24141, 23898

Trading strategy: Bullish above 24391, target 24780, 25059
Alternative strategy: bearish below 24391, target 24141, 23898

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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