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Bitcoin is close to falling below $20000

2022-06-16
1328
Fundamental analysis:

Bitcoin remained volatile around 21638, cryptocurrency continued to decline, and bitcoin was close to falling below US $20000 / piece for the first time since december2020.


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




Technical comments: the short power continued to fluctuate downward at the nodes in the middle and lower tracks of the Bollinger belt index, and reversed the oscillation after the low level reached the nodes near 20071. The Bollinger belt index continued to decline in the closing trend, the MACD index maintained a low level in the short area and slowly recovered, and the RSI index rose in the low weak level in the short area;


Multi empty turning point: 22048


Pressing position: 23137, 24259


Support position: 20414, 19370


Trading strategy: bearish below 22048, target 20414, 19370


Alternative strategy: bullish above 22048, goals 23137 and 24259


The above analysis is a personal point of view and is for reference only.

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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