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BTC: oscillating down
2023-04-20
963
Fundamental analysis:
Bitcoin remained oscillating around 29244. According to Whale Alert data, a dormant address holding 6071 BTC (worth $178,128,678) was activated after being idle for 9.3 years. ($3,362,853 value in 2013).
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market is shrouded in bearish sentiment, the short-term reversal moves up and then moves down again, the market is still in a downward trend, the MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line for weak consolidation;
Resistance level: 29558 29773
Support level: 29048 28828
Trading strategy: bearish below 29350, target 29048 28828
Alternative strategy: call above 29350, target 29558 29773
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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