Bitcoin remained volatile around 21631. According to the data of glassnode, a cryptocurrency analysis platform, as of August 25, the 7-day average of bitcoin stock in the cryptocurrency exchange had dropped to 1921 BTC, a two-year low.
Bitcoin btcusd - 4-hour K-line diagram shows:
According to the 4-hour chart, the weak position at the bottom of the short-term entanglement is in a narrow range. Although there are many bulls waiting for the opportunity to move up slowly, the market as a whole is in a weak position. The MACD indicator is in the short position and the region keeps moving up. The RSI indicator is hovering below the 50 equilibrium line;
Long and short turning point: 21463
Pressing position: 21952, 22212
Support position: 21152, 20881
Trading strategy: 21463 is bullish, with targets 21952 and 22212
Alternative strategy: 21463 lower bearish, target 21152, 20881