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BTC: Wide and huge earthquake

Fundamental analysis:

Bitcoin remained volatile around 28411. European Central Bank (ECB) Executive Committee member Fabio Panetta announced that the primary goal of the digital euro project is to establish it as a universal payment method, and the digital euro is entering the final stage. The next phase of the digital euro will be development and testing, and cooperation with the European Commission on legislative proposals on the issue.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum fluctuates sharply after a rapid decline, the market is shrouded in short-term sentiment, and there are signs of continued downward movement in the short term. The MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Resistance level: 28821 29065

Support level: 28147 27849

Trading strategy: Bearish below 28560, target 28147 27849
Alternative strategy: call above 28560, target 28821 29065

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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