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Bitcoin: high level is blocked and retreats

2022-07-21
1588
Fundamental analysis:

Bitcoin remained volatile around 23251. According to coinglass data, the whole network burst positions of US $327million in recent 24 hours, of which US $176million, accounting for 53.8% of the total network burst positions, US $89.52 million for bitcoin and US $6.04 million for etc.



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



Technical analysis:


According to the 4-hour chart, the Bull Power surged strongly, the high level retreated in the short term, and the short power waited for the opportunity to enter. The MACD index was at the high level of the bull region, and the RSI index was at the narrow range of the bull region;


Long short turning point: 23391


Pressing position: 23805, 24178


Support position: 22816, 22483


Trading strategy: 23391 bearish below, targets 23805, 24178


Alternative strategy: 23391 bullish above, targets 22816, 22483

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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