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BTC: bears continue to fall

2022-08-05
1590
Fundamental analysis:

Bitcoin remained volatile around 22493. Coinbase reached a cooperation with blockrock, the world's largest asset management company, to provide institutional customers of Aladdin, BlackRock's end-to-end investment management platform, with direct access to encryption, starting with bitcoin only.


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




Technical analysis:


According to the 4-hour chart, the short-term momentum remained volatile and the downward trend was good, and there was no sign of stopping in the short-term decline. The MACD index was weak around the 0 axis, and the RSI index was narrow under the 50 equilibrium line;


Long short turning point: 22624


Pressing position: 22922, 23241


Support position: 22195, 21939


Trading strategy: 22624 bearish below, targets 22195, 21939


Alternative strategies: bullish above 22624, targets 22922, 23241

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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