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BTC: strong climb

Fundamental analysis:

Bitcoin remained volatile around 27,600. The U.S. Court of Appeals overturned the Securities and Exchange Commission (SEC)'s decision to block the sale of Bitcoin ETF, paving the way for the listing of the first Bitcoin ETF.

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

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising strongly, the market is shrouded in bullish sentiment, and there is a trend of continuing to move upward in the short term. The MACD indicator is in the bullish zone to maintain consolidation, and the RSI indicator is in the bullish zone. High volatility;

Resistance level: 27871 28138

Support level: 27110 26800

Trading strategy: Bullish above 27419, target 27871 28138
Alternative strategy: bearish below 27419, target 27110 26800

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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