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Bitcoin: weak narrow range shock

2022-06-24
1510
Fundamental analysis:

Bitcoin remained volatile around 20538. The State Council issued the guiding opinions on strengthening the construction of digital government, which made arrangements to actively comply with the trend of economic and social digital transformation, fully release the dividends of digital development, and comprehensively create a new situation in the construction of digital government.



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




Technical analysis:


According to the 4-hour chart: it has been maintained in the weak and narrow range of the Bollinger belt index channel for a long time, the low-level Bull Power shows signs of waiting for the opportunity to enter, and began to slowly sort out and move upward. The MACD index is in the weak and upward trend of the short area, and the RSI index is in the weak and upward trend of the short area, moving to the 50 equilibrium line;


Multi empty turning point: 20319


Pressing position: 21457, 22231


Support position: 19563, 18910


Trading strategy: bullish above 20319, target 21457, 22231


Alternative strategy: bearish below 20319, target 19563, 18910

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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