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Bitcoin: bears continue to decline

2022-07-27
1558
Fundamental analysis:

Bitcoin remained volatile around 21092. President nayib bukele of El Salvador announced on twitter on Tuesday that he had submitted two sovereign debt repurchase bills to the local congress to strive for the funds needed to repurchase all sovereign debt bonds maturing in 2023 and 2025.




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




Technical analysis:


According to the 4-hour chart, the short power maintained a weak step shock downward, and the short-term low level was supported, but the downward trend was good. The MACD index was at the low level of the 0 axis, and the RSI index was at the low level of the 50 equilibrium line;


Long short turning point: 21260


Pressing position: 21615, 21968


Support position: 20727, 20354


Trading strategy: bearish below 21260, targets 20727, 20354


Alternative strategies: bullish above 21260, targets 21615, 21968

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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