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BTC: short positions continue to fluctuate and fall
2022-08-18
1485
Fundamental analysis:
Bitcoin remained volatile around 23396. The proposed amendment to the financial services law published by the European Union shows that European banks that have access to bitcoin and other cryptocurrencies will face a holding cap and high capital requirements.
Bitcoin btcusd - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the market bears are shrouded in sentiment and begin to shake down gradually. The short-term decline may continue. The MACD index hovers below the 0 axis and the RSI index is in a narrow range under the 50 equilibrium line;
Long and short turning point: 23476
Pressing position: 23710, 23928
Support position: 23179, 22971
Trading strategy: 23476 lower bearish, target 23179, 22971
Alternative strategy: bullish above 23476, target 23710, 23928
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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