CM Trade

Download APP to receive bonus

GET

BTC: Short finishing

2022-11-29
1312
Fundamental analysis:
Bitcoin remained oscillating around 16189. Binance One stored the addresses of more than 120,000 bitcoin wallets and transferred most of the bitcoins in the wallet (127,351 bitcoins, worth over $2 billion) to the new address. Zhao Changpeng responded that the move was to prove that Binance had control over the address at the request of the auditor, and the bitcoin in the address was transferred to the new address.

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



Brief technical analysis:
Looking at the 4-hour chart: the short momentum is slowly finishing down, the market as a whole is in a weak position, the MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 16333
Suppression: 16594, 16858
Support: 15950, 15633
Trading strategy: bearish below 16333, target 15950, 15633
Alternative strategy: call above 16333, target 16594, 16858
   

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More