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Bitcoin: bearish shock downward

2022-07-12
1533
Fundamental analysis:

Bitcoin remained volatile around 20450. Gryphon digital mining, Inc., a carbon neutral encryption mining company, announced its operations in June: 71 BTCs were produced in the month, with an average hash rate of 548 pH / s.


Bitcoin btcusd - 4-hour K-line diagram display:




Technical analysis:


According to the 4-hour chart, the high short power continued to fluctuate downward, and the short power attacked again. In the short term, it continued to move downward. The short power of MACD index maintained consolidation and moved down to hover near the 0 axis, and the RSI index was in the narrow consolidation below the 50 equilibrium line;


Long short turning point: 20756


Pressing position: 21444, 22191


Support position: 19758, 19150


Trading strategy: down 20756, target 19758, 19150


Alternative strategies: bullish above 20756, goals 21444, 22191

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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