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BTC: Continuing to fall

2023-04-21
957
Fundamental analysis:

Bitcoin remained oscillating around 28199. According to OKLink data, Bitcoin mining difficulty ushered in a mining difficulty adjustment at block height 786240. The mining difficulty was slightly increased by 1.7% to 48.72 T, continuing to hit a record high. The current average computing power of the entire network is 355.32EH/s.

Bitcoin BTCUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the market is shrouded in short-term sentiment, and it will continue to move downward in the short term. The market’s short-term sentiment has no signs of final stop. The MACD indicator is in the short-term area and continues to move downward, and the RSI indicator is in the short-term area. Low down;

Resistance level: 28565 28807

Support level: 27962 27720

Trading strategy: bearish below 28304, target 27962 27720
Alternative strategy: call above 28304, target 28565 28807

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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