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BTC: high level short-term finishing

2022-08-15
1464
Fundamental analysis:

Bitcoin kept fluctuating around 24108. According to glassnode data, the supply of BTC last active for more than 10 years reached a record high of 2496282.068 BTC.



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




Technical analysis:


According to the 4-hour chart, the long-term momentum keeps rising, the high-level short-term pullback consolidation, and the overall market still continues to move upward. The MACD index hovers on the upper side of the 0 axis, and the RSI index is in the narrow range consolidation on the 50 balanced online side;


Long and short turning point: 23983


Pressing position: 24508, 24837


Support position: 23539, 23303


Trading strategy: bullish above 23983, targets 24508 and 24837


Alternative strategy: bear below 23983, target 23539, 23303

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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