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Bitcoin: continuous downward exploration
2022-07-01
1511
Fundamental analysis:
Bitcoin remained volatile around 18725. With the more hawkish central bank and a series of high-profile cryptocurrency plummets hitting market sentiment, bitcoin may usher in its worst quarter in more than a decade. The 58% quarterly decline was the largest since the third quarter of 2011, when bitcoin was still in its infancy.
Bitcoin btcusd - 4-hour K-line diagram display:
Technical analysis:
Looking at the 4-hour chart: after maintaining the weak and narrow consolidation at the bottom for a long time, the short power finally ushered in a further decline. The Bollinger belt index continued to open its mouth slowly, the MACD index hovered at the lower side of the 0 axis, and the RSI index was at the lower side of the 50 equilibrium line. The short area continued to fluctuate downward;
Multi empty turning point: 19121
Pressing position: 19783, 20494
Support position: 18102, 17384
Trading strategy: 19121 down bearish, target 18102, 17384
Alternative strategy: bullish above 19121, target 19783, 20494
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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