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Fidelity's bitcoin index fund has invested more than $125 million

2022-05-25
1252
Fundamental analysis:

Bitcoin remained volatile around 29541. Nearly two years after the launch of Fidelity Investments bitcoin index fund, the growth of domestic investment decreased year-on-year. According to the securities and Exchange Commission, nearly nine months later, the fund raised $102 million. As of May 23, the fund has raised a total of $126.5 million, indicating that the overall growth is slowing compared with the previous reporting period.


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




Technical comments: maintain the narrow sorting and translation in the Bollinger belt index channel for a long time, and probe the upper and lower rail section nodes back and forth for many times. During the closing and translation of the Bollinger belt index, the MACD index is in the weak wandering near the 0 axis, and the RSI index is in the narrow sorting below the 50 equilibrium line;


Long short turning point: 29520


Pressing position: 30546, 31469


Support position: 27878, 27078


Trading strategy: bearish below 29520, target 27878, 27078


Alternative strategy: bullish above 29520, targets 30546 and 31469


The above analysis is a personal point of view and is for reference only.

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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