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BTC: Short position moves down slowly

2022-10-21
1342
Fundamental analysis:

Bitcoin kept the shock near 19016. Craken, the cryptocurrency exchange, sent an email statement to its Russian customers, announcing that the exchange would stop providing services to its Russian customers to comply with the latest EU sanctions against Russia.



Bitcoin BTCUSD - 4-hour K line diagram display:




Technical analysis:


The 4-hour chart shows that the bearish power maintains a narrow range of weak positions and slowly declines, and the short-term decline may continue. The MACD indicator hovers in the weak position below the 0 axis, and the RSI indicator is in the narrow range of consolidation below the 50 equilibrium line;


Empty turning point: 19067


Pressing: 19256, 19412


Support: 18841, 18662


Trading strategy: 19067 lower bearish, target 18841, 18662


Alternative strategy: 19067 upper bullish, target 19256, 19412

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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