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BTC: Weakness hovers

2022-11-18
1305
Fundamental analysis:

Bitcoin maintained the shock around 16687. Arkon Energy, a Bitcoin mining startup, completed a financing of $28 million. Blue Sky Capital, a digital asset market maker, led the investment, and Kestrel 0x1, Shima Capital and others participated in the investment. Arkon Energy said in a statement that the financing is a combination of senior debt and equity capital.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:

The 4-hour chart shows that the market is in a weak position as a whole. The MACD indicator is at the bottom of the 0 axis and the RSI indicator is at the bottom of the 50 equilibrium line;

Empty turning point: 16542

Pressing: 17102, 17457

Support: 16230, 15875

Trading strategy: 16542 upside bullish, target 17102, 17457

Alternative strategy: 16542 lower bearish, target 16230, 15875

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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