BTC: Short finishing

Fundamental analysis:

Bitcoin remained volatile around 16772. Ray Youssef, co-founder and CEO of Paxful, a Bitcoin P2P market, said that he has decided to remove ETH from the trading market, and it will take effect at 20:00 on December 22, Beijing time. Ray Youssef explained that the reason for this move is that ETH has shifted from PoW to PoS consensus mechanism. The innovation of PoW has made BTC the only honest currency; ETH is not decentralized; although ETH has some real use cases, the reason for its development lies in Tokenization.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics maintain a narrow range, the market’s short-term sentiment emerges, the MACD indicator is hovering below the 0 axis, and the RSI indicator is under the 50 balance line.

Long-short turning point: 16803

Suppression: 16977, 17128

Support: 16637, 16464

Trading strategy: bearish below 16803, target 16637, 16464

Alternative strategy: call above 16803, target 16977, 17128