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BTC: slow up

2022-11-30
1324
Fundamental analysis:
Bitcoin maintains a shock around 16457. The Bitcoin network is expected to usher in a difficulty adjustment on December 5. Analysis shows that this difficulty adjustment may be reduced by 6.13-10%, which is expected to exceed the 5.01% decline set on July 21. Become the biggest drop in 2022.


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



Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls is slowly oscillating upwards, the market is bullish, the MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long and short turning point: 16358
Repression: 16671, 16858
Support: 16143, 15950
Trading strategy: Bullish above 16358, target 16671, 16858
Alternative strategy: bearish below 16358, target 16143, 15950

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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