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BTC: Wide range of shocks

2023-02-09
989
Fundamental analysis:

Nearly two years after Bitcoin mining company Digihost (DGHI) first announced plans to acquire a natural gas power plant in New York State, it said it had completed the acquisition. Digihost was able to pay for the plant in cash, thus avoiding taking on debt or diluting existing shareholders, Chief Executive Michel Amar said at a news conference on Wednesday.

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



Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum maintains a wide range of shocks and moves slowly downward, the short-term decline may continue, the market as a whole is moving downward, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;

Long-short turning point: 22991

Suppression: 23194, 23425
Support: 22686, 22496

Trading strategy: bearish below 22991, target 22686, 22496
Alternative strategy: call above 22991, target 23194, 23425

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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