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BTC: short-term consolidation

Fundamental analysis:

Bitcoin remained volatile around 23932, in response to the head of the Bank for International Settlements, Carstens, who said that fiat money had won the battle against cryptocurrencies, and Galaxy CEO Mike Novogratz, who said he was too stubborn, and that tons of fiat money had depreciated by 50% over the past decade above, while BTC and ETH have appreciated a lot.

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

Brief technical analysis:

4-hour chart: short-term high level ordering, narrowing of volatility space, weakening of short positions in the market, signs of bulls starting to wait for an opportunity to enter the market, MACD index hovering around the 0 axis, RSI index is in a weak order near the 50 balance line;

Long and short turning point: 23846

Suppression: 24202, 24468
Support: 23572, 23357

Trading strategy: Bullish above 23846, target 24202, 24468
Alternative strategy: bearish below 23846, target 23572, 23357

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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