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BTC: shock downward

Fundamental analysis:

Bitcoin kept the shock near 16332. BitMEX announced that the Bitcoin developer grant to Rene Pickhardt would be extended to May 2023, six months longer than the previous grant. BitMEX currently supports five Bitcoin developers and researchers. Rene Pickhardt's grant is US $50000 per year, mainly focusing on lightning network.

Bitcoin BTCUSD - 4-hour K line diagram display:

Technical analysis:

The 4-hour chart shows that the bearish power maintains a narrow range of shocks and slowly declines, and the market bearish situation is good. The MACD indicator is in the bearish area and maintains consolidation and translation, while the RSI indicator is in a weak position below the 50 equilibrium line;

Empty turning point: 16501

Pressing: 16867, 17201

Support: 15919, 15596

Trading strategy: 16501 lower bearish, target 15919, 15596

Alternative strategy: 16501 upside bullish, target 16867, 17201

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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