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BTC: Short Position Low Position Weak Move Down
2022-09-19
1269
Fundamental analysis:
Bitcoin remained volatile around 1954. According to the data of Santiment, a behavioral analysis platform, from September 7 to 13, 1.69 million bitcoins (currently equivalent to 33.5 billion US dollars) were transferred to the cryptocurrency exchange, the highest amount of bitcoin transfers since October 2021.
Bitcoin BTCUSD - 4-hour K line diagram display:
Technical analysis:
The 4-hour chart shows that the bearish power maintains its weak position and arranges slowly. The market bearish mood is shrouded. The short-term decline has not stopped, and there are signs of further downward movement. The MACD indicator is weak and hovering below the 0 axis, and the RSI indicator is narrow and arranges below the 50 equilibrium line;
Empty turning point: 19652
Pressing position: 20025, 20349
Support position: 19182, 18890
Trading strategy: 19652 lower bearish, target 19182, 18890
Alternative strategy: 19652 upper bullish, target 20025, 20349
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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