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BTC: Upward at a high level

2023-01-17
1055
Fundamental analysis:

Bitcoin remained volatile around 20958. Dai Matsumoto, CEO of Monex Group, the parent company of the Japanese financial group and cryptocurrency trading platform Coincheck, said in an interview that he was interested in acquiring FTX Japan, a subsidiary of FTX in Japan, but refused to disclose his bid.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level bullish momentum continues to fluctuate upwards, the short-term bullish trend continues, the market bullish momentum continues to rise, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering above the 80 balance line in the overbought zone in the bullish zone;

Long and short turning point: 20958

Suppression: 21381, 21668
Support: 20662, 20364

Trading strategy: Bullish above 20958, target 21381, 21668
Alternative strategy: bearish below 20958, target 20662, 20364

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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