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Bitcoin: low and weak sorting

2022-06-29
1433
Fundamental analysis:

Bitcoin remained volatile around 20245. Luxor technology, a full stack bitcoin mining software and service provider, is launching a market for miners where customers can purchase hosting services for their mining equipment.




Bitcoin btcusd - 4-hour K-line diagram display:




Technical analysis:


According to the 4-hour chart, it has been maintained in the narrow weak consolidation in the Bollinger belt index channel for a long time. During this period, it has repeatedly probed the nodes of the upper and lower rail sections, and there is no sign of breaking in the short term. The MACD index hovers around the 0 axis, and the RSI index is in the narrow consolidation below the 50 equilibrium line;


Long short turning point: 20797


Pressing position: 21526, 22277


Support position: 19568, 18976


Trading strategy: 20797 down bearish, target 19568, 18976


Alternative strategy: bullish above 20797, goals 21526 and 22277

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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