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BTC: multi head power finishing up
2022-08-04
1628
Fundamental analysis:
Bitcoin remained volatile around 23299. According to crypto quant, a chain analysis company, miners' bitcoin holdings increased significantly by 6885 in July. As of July 29, their total balance was 1865272 BTCs, a record high. Bitcoin miners' reserves have fully recovered from the outflow / selling in June.
Bitcoin btcusd - 4-hour K-line diagram display:
Technical analysis:
Looking at the 4-hour chart: high short positions fluctuated downward, and were supported in the short term. Long positions maintained a narrow consolidation in the short term, and moved slowly upward. MACD index hovered around the 0 axis, and RSI index was at 50 balanced online narrow consolidation;
Long short turning point: 23202
Pressing position: 23616, 24009
Support position: 23853, 22541
Trading strategy: bullish above 23202, targets 23616, 24009
Alternative strategy: 23202 down, goals 23853, 22541
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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