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Bitcoin: bottom finishing
2022-07-04
1539
Fundamental analysis:
Bitcoin remained volatile around 19409. According to glassnode data, giant whales holding more than 1000btc are actively increasing their holdings of BTC, with a monthly increase of about 140000. By the end of June, the giant whale had accumulated 8.69 million BTCs, accounting for 45.6% of the total BTC supply.
Bitcoin btcusd - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart: it has been in the weak and narrow consolidation at the bottom for a long time, and continues to move downward in the narrow range of the lower rail section of the Bollinger belt index channel. The Bollinger belt index shows a closing trend and slowly descends. The MACD index is in the weak and hovering on the lower side of the 0 axis, and the RSI index is in the short area consolidation under the 50 equilibrium line;
Long short turning point: 19784
Pressing position: 21494, 21539
Support position: 18512, 17653
Trading strategy: bearish below 19784, targets 18512, 17653
Alternative strategy: bullish above 19784, goals 21494, 21539
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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