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BTCUSD: Narrow finishing

2022-10-25
1210
Fundamental analysis:

Bitcoin remained volatile around 19301. Tesla said that in the nine months ended September 30, due to the change in the book value of Bitcoin, Tesla recorded an impairment loss of $170 million. In addition, Tesla recorded $64 million in revenue by converting Bitcoin into fiat currency.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the short-term consolidation continues to shift. After the low position and high opening, the upward mobility is insufficient and still weak. The MACD index is weak and hovering near the axis 0, and the RSI index is narrow and consolidated near the 50 equilibrium line;


Empty turning point: 19266


Pressing position: 19473, 19648


Support position: 19086, 18898


Trading strategy: 19266 upside bullish, target 19473, 19648


Alternative strategy: 19266 lower bearish, target 19086, 18898

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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