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Bitcoin: low weak finishing
2022-07-05
1571
Fundamental analysis:
Bitcoin remained volatile around 20388, and the Singapore monetary authority is considering limiting retail investors' participation in the cryptocurrency market.
Bitcoin btcusd - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart: it has been maintained in the weak consolidation in the Bollinger belt index channel for a long time, and the Bollinger belt index is in a closing trend. The low short-term Bull Power shows signs of waiting for the opportunity to enter, but the overall situation is still weak. The MACD index hovers below the 0 axis, and the RSI index is in a narrow consolidation on the online side of 50 equilibrium;
Long short turning point: 20388
Pressing position: 21251, 22200
Support position: 18885, 17964
Trading strategy: 20388 down, 18885, 17964 targets
Alternative strategy: bullish above 20388, goals 21251, 22200
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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