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BTC: low and weak

2022-09-02
1391
Fundamental analysis:

Bitcoin remained volatile around 20056. Bitfarms, a bitcoin mining enterprise, said in its monthly update on Thursday that 534btc was mined in August, an increase of 6.8% compared with the previous month, and its hash rate was increased by 1% to 3.9eh/s.




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




Technical analysis:


According to the 4-hour chart, the low-level short-term weak narrow range consolidation shifts, the market bearish sentiment remains, the MACD index is in the weak consolidation below the 0 axis, and the RSI index is in the weak wandering below the 50 equilibrium line;


Long and short turning point: 20241


Pressing position: 20620, 20996


Support position: 19560, 19230


Trading strategy: bearish below 20241, target 19560, 19230


Alternative strategy: bullish above 20241, target 20620, 20996

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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