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BTC: strong bulls

Fundamental analysis:

Bitcoin kept fluctuating around 22391. With the anonymous enhanced currency (AEC) facing increasing regulatory pressure, crypto exchange fire coin will offline seven kinds of private coins, including dash (DSH), decred (DCR), Firo (Firo), monero (XmR), verge (xvg), zcash (Zec) and horizen (Zen). These tokens will be offline on September 19, and the deposit service will stop on September 12.

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

Technical analysis:

According to the 4-hour chart, the Bulls' momentum is strong, the high level starts to sort out in the short term, the bullish sentiment of the market continues, the MACD indicator is in the long area and keeps sorting up, and the RSI indicator is in the high overbought area and hovers below the 80 equilibrium line;

Long short turning point: 22271

Pressing position: 22690, 22988

Support position: 27981, 21706

Trading strategy: bullish above 22271, target 22690, 22988

Alternative strategy: 22271 bearish, target 27981, 21706

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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