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BTC: bulls pull up strongly

2022-07-29
1547
Fundamental analysis:

Bitcoin remained volatile around 23916. Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), was worried that the EU's rapidly developing encrypted asset market (MICA) act might lead to global exports of European style encryption regulation, which would have a negative impact on U.S. regulators. The ability to effectively create your own rules.




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




Technical analysis:


According to the 4-hour chart, the bull power rose strongly, the front high was close at hand, and the break was imminent, and the bull power showed no sign of stopping. The MACD index was at the high level of the bull region and moved up, and the RSI index was out of the high level of the bull region;


Long short turning point: 23664


Pressing position: 24259, 24643


Support position: 23260, 22846


Trading strategy: bullish above 23664, targets 24259, 24643


Alternative strategy: 23664 bearish below, goals 23260, 22846


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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