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BTC: Short position low oscillation

2022-09-26
1526
Fundamental analysis:

Bitcoin has maintained a concussion around 18620. Recently, it is said in the currency circle that "one Bitcoin is one Bitcoin". This view is intended to express that the price of Bitcoin is not important, because the supply is fixed, theoretically speaking, it will play a role in supporting the price in the long term.




Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the bearish power keeps moving downward with low and narrow amplitude shocks. After short-term consolidation, it moves downward again. The MACD index hovers under the 0 axis, and the RSI index is weak under the 50 equilibrium line;


Empty turning point: 18762


Pressing position: 19097, 19387


Support position: 18278, 18005


Trading strategy: 18762 lower bearish, target 18278, 18005


Alternative strategy: 18762 upper bullish, target 19097, 19387

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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