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BTC: weak consolidation
2022-12-26
1168
Fundamental analysis:
Bitcoin maintains a shock around 16833. According to data, among the top ten most searched cryptocurrencies on Google in 2022, Bitcoin ranks first, with a monthly global search volume of 28,410,000 and a monthly search volume of 4,570,000 in the United States alone in second place is Elon Musk-backed Dogecoin with 5,850,000 monthly global searches and 729,000 monthly searches in the US in 2022. In addition, Shiba Inu and Ethereum ranked third and fourth respectively.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level narrow range is weak, the market is weak in the short term, the long-short dynamics are in a state of anxiety, the MACD indicator is weakly hovering below the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long and short turning point: 16788
Suppression: 16977, 17128
Support: 16660, 16524
Trading strategy: Bullish above 16788, target 16977, 17128
Alternative strategy: bearish below 16788, target 16660, 16524
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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