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BTC: Shorts plummeted

2022-11-09
1378
Fundamental analysis:

Bitcoin remained volatile near 18555. Steven Adamske, spokesman of the Commodity Futures Trading Commission (CFTC), said that he was paying attention to the FTX event, but no regulatory issues were clear at present.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the power of short positions drops rapidly, and the short-term decline may continue. The low position is in a wide range of shocks, the MACD indicator is in the short position area and continues to move downward, and the RSI indicator is in the short position area;


Empty turning point: 18706


Pressing: 19,048, 19,381


Support: 18240, 17899


Trading strategy: 18706 lower bearish, target 18240, 17899


Alternative strategy: 18706 upper bullish, target 19048, 19381

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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