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BTC: weak consolidation

2023-03-03
888
Fundamental analysis:

Bitcoin remained volatile around 23423, and EU antitrust chief Margrethe Vestager said that the virtual world accessible through the Internet is the next digital market to attract regulatory scrutiny.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term narrow range is weakly organized, the market as a whole is hovering weakly, the MACD indicator is at the lower side of the 0 axis, and the RSI indicator is hovering near the 50 balance line;

Long and short turning point: 23298

Suppression: 23668, 23905
Support: 23083, 22861

Trading strategy: Bullish above 23298, target 23668, 23905
Alternative strategy: bearish below 23298, target 23083, 22861

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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