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BTC: slow up

2023-01-20
538
Fundamental analysis:

According to a new report from Crypto.com, compared with 2021, global cryptocurrency holders will increase by 39% in 2022. The total number of cryptocurrency holders increased from 306 million at the end of 2021 to 425 million at the end of 2022. This is a positive development for the industry, as 2022 is generally a bear market. The number of Bitcoin (BTC) holders increased by 20% from 183 million in January to 219 million in December. Additionally, BTC is the most owned asset, accounting for 52% of global cryptocurrency holders.

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



Brief technical analysis:

Looking at the 4-hour chart: After a short-term consolidation at a high level, it is slowly rising, the bulls in the market are weak, and they are still at a high level in the short term.

Long-short turning point: 20922

Repression: 21331, 21628
Support: 20625, 20318

Trading strategy: Bullish above 20922, target 21331, 21628
Alternative strategy: bearish below 20922, target 20625, 20318

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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