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Bitcoin: high level fallback consolidation

2022-07-22
1554
Fundamental analysis:

Bitcoin remained volatile around 23117. The Bank of Indonesia plans to release wholesale digital currency and will release the conceptual design of digital rupee at the end of this year.



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




Technical analysis:


According to the 4-hour chart, the Bull Power maintained a shock rise, the high level retreated in the short term, the short power waited for the opportunity to enter, and the short power maintained a downward trend of high consolidation in the short term. The MACD index was in the bull region to maintain consolidation, and the RSI index was in the 50 equilibrium online side;


Long short turning point: 23280


Pressing bits: 23664, 24027


Support position: 22745, 22321


Trading strategy: 23280 bearish below, target 22745, 22321


Alternative strategies: bullish above 23280, targets 23664, 24027

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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