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BTC: within a narrow range
2023-04-05
905
Fundamental analysis:
Bitcoin remained volatile around 28,300. Encrypted mining company Argo Blockchain PLC announced its operations in March: 161 bitcoins were produced this month, with an average daily yield of about 5.2 bitcoins, a 10% drop from February. The main driver of the decline in daily BTC production is the increase in network difficulty.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: In the short term, the market is struggling with high and narrow range fluctuations. The market as a whole is hovering at high levels. In the short term, there is no final direction guidance, or the entanglement with high levels continues to fluctuate. ;
Resistance level: 28567 28852
Support level: 27842 27529
Trading strategy: Bullish above 28146, target 28567 28852
Alternative strategy: bearish below 28146, target 27842 27529
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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