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BTC: short low weak move down
2022-08-23
1434
Fundamental analysis:
Bitcoin fluctuated around 21252. According to bitinfocharts, as of August 22, the cumulative number of BTCs held by dormant addresses in the past five years reached 17.87 million, a record high.
Bitcoin btcusd - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short power keeps oscillating downward, and there is a trend of continuous downward movement after the low and narrow range weakness hovers. The MACD index is in the low and narrow range consolidation and translation of the short area, and the RSI index is in the low and weak hover of the short area;
Long and short turning point: 21252
Pressing position: 21561, 21837
Support position: 20807, 20548
Trading strategy: down 21252, target 20807, 20548
Alternative strategy: bullish above 21252, targets 21561 and 21837
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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