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Bitcoin: weak shock downward

2022-07-14
1551
Fundamental analysis:

Bitcoin remained volatile around 1965. The digital economic zone supported by the Catawba Indian nation in Rockhill, South Carolina, has passed a series of regulations aimed at creating "legal clarity" for digital assets.



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




Technical analysis:


According to the 4-hour chart, the market bears are in good mood, the short-term decline has not stopped, the low position is weak, the MACD index is in the weak narrow consolidation of the short position area, and the RSI index is in the weak consolidation below the 50 equilibrium line;


Long short turning point: 19816


Pressing position: 20271, 20691


Support position: 19200, 18766


Trading strategy: 19816 bearish below, target 19200, 18766


Alternative strategy: 19816 is bullish, with goals 20271 and 20691


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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