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BTC: continuous wide range oscillation

2022-08-08
1582
Fundamental analysis:

Bitcoin remained volatile around 22794. The bitcoin mining enterprise core scientific sold 1975 BTCs in July, and the mining volume in July was 1221, exceeding the mining volume by 754. The funds will be used to increase the investment related to the data center and pay the 100000 mining equipment ordered by bitland in 2021.



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




Technical analysis:


According to the 4-hour chart, the short-term entanglement and wide-range consolidation translate, the market fluctuates in the near future or maintains the range, the high-level weakness retreats, the MACD index hovers around the 0 axis, and the RSI index is in the narrow-range consolidation near the 50 equilibrium line;


Long and short turning point: 22624


Pressing position: 23123, 23483


Support position: 22264, 21939


Trading strategy: bullish above 22624, targets 23123 and 23483


Alternative strategy: 22624 lower bearish, target 22264, 21939

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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