CM Trade

Download APP to receive bonus

GET

BTC: Weak consolidation

2022-11-25
1376
Fundamental analysis:
Bitcoin oscillated around 16537. On-chain data shows that in the past 48 hours, BTC whales holding between 1,000 and 10,000 coins have sold (or transferred) about 100,000 BTC.


Bitcoin BTCUSD - 4-hour candlestick chart shows:



A brief technical analysis:
From the 4-hour chart: the low level moved up slowly and then settled in a narrow range, the market as a whole was in a weak position, the MACD indicator was in a weak position near the 0 axis, and the RSI indicator was in a narrow range on the side of the 50 equilibrium line;
Long and short turning point: 16333
Repression: 16856, 17164
Support: 15950, 15633
Trading strategy: bullish above 16333, target 16856, 17164
Alternative strategy: bearish below 16333, target 15950, 15633

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More