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BTC: weak consolidation

2022-12-27
1147
Fundamental analysis:
Bitcoin remained volatile around 16833. The Shanghai Municipal Bureau of Ecology and Environment issued the "Shanghai Carbon Inclusive System Construction Work Plan" and proposed to build a carbon inclusive platform. On December 26, the carbon inclusive platform "Shanghai Carbon Bank" settled in digital RMB Online, users' daily low-carbon behavior income can be converted into digital RMB in real time.

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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