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Bitcoin: narrow sorting

2022-06-27
1550
Fundamental analysis:

Bitcoin remained volatile around 21106. Bitfinex reported that bitcoin is a high-risk asset, and investors' reduction of portfolio risk means bitcoin selling.




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




Technical analysis:


According to the 4-hour chart, the weak and narrow consolidation at the bottom has been maintained for a long time, the Bollinger belt index has a closing trend and continues to shift, and the short-term low shows signs of a circular bottom trend, but the low-level buying power of the market is still lacking. The MACD index is in the short area, and it has maintained a concussion and slowly moved up to the 0 axis, and the RSI index is in the narrow consolidation near the 50 equilibrium line;


Long short turning point: 20797


Pressing position: 21776, 22482


Support position: 19949, 19295


Trading strategy: upward bullish on 20797, target 21776, 22482


Alternative strategy: down 20797, target 19949, 19295

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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