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BTC: Upward at a high level

2023-02-21
968
Fundamental analysis:

Bitcoin remained volatile around 24792. The Hong Kong Securities Regulatory Commission stated in a consultation document that individual investors will be allowed to trade large-cap tokens on exchanges licensed by the Securities Regulatory Commission, provided knowledge tests, risk tolerance assessments and reasonable risk exposures Safeguard measures such as export restrictions are in place. The comment period for the document, which closes on March 31, aims to allow retail trading under the new licensing regime for cryptocurrency exchanges on June 1.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum maintains a shock and pulls up, and the short-term high level is short-term resistance.

Long and short turning point: 34640

Suppression: 35044, 35279
Support: 25332, 24111

Trading strategy: Bullish above 34640, target 35044, 35279
Alternative strategy: bearish below 34640, target 25332, 24111

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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