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BTC: The shock moves up
2023-05-03
861
Fundamental analysis:
Bitcoin maintains a shock around 26691. According to Glassnode data, since the creation of the Bitcoin network, Bitcoin miners have received a total income of 50.2 billion US dollars from block subsidies and fees. In addition, the historical estimated total investment cost of bitcoin miners is 36.6 billion US dollars, and the cumulative net profit of bitcoin miners is estimated to be 13.6 billion US dollars, with a profit margin of about 37%.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term bullish momentum remains volatile and moves upward, the market bullish sentiment begins to emerge, and there is a trend of continuing to move upward in the short term, the MACD indicator is hovering below the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance level: 28943 29203
Support level: 28316 28063
Trading strategy: Bullish above 28576, target 28943 29203
Alternative strategy: bearish below 28576, target 28316 28063
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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