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BTC: high short down

2022-08-03
1548
Fundamental analysis:

Bitcoin remained volatile around 23100. MicroStrategy's latest financial report showed that as of June 30, 2022, 129699 bitcoins held by the company had been acquired at a price of about $4billion, reflecting an average cost of about $30664 per bitcoin. Based on the current price of bitcoin of about $23000, the value of these assets is about $3billion.




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




Technical analysis:


According to the 4-hour chart, the high short power remained volatile and slowly declined, and was in the process of narrow consolidation. The market short power began to enter, the MACD index hovered on the upper side of the 0 axis, and the RSI index was in the weak consolidation near the 50 equilibrium line;


Long short turning point: 23244


Pressing position: 23616, 24009


Support position: 22696, 22323


Trading strategy: 23244 bearish below, targets 22696, 22323


Alternative strategies: bullish above 23244, targets 23616, 24009


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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