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Bitcoin: short shocks fell

2022-07-26
1530
Fundamental analysis:

Bitcoin remained volatile around 21809, and Fidelity Investment announced that it would allow investors to deposit bitcoin in their 401 (k) pension account through a dedicated "digital asset account".



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




Technical analysis:


According to the 4-hour chart, the momentum of high short positions maintained a good downward trend, and there was no sign of stopping in the short-term decline. The MACD index hovered below the 0 axis, and the RSI index was in a narrow range under the 50 equilibrium line;


Long short turning point: 22029


Pressing position: 22372, 22715


Support position: 21504, 21161


Trading strategy: bearish below 22029, target 21504, 21161


Alternative strategy: bullish above 22029, targets 22372, 22715

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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