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Btcusd: bearish sentiment continues to envelop

2022-06-20
1247
Fundamental analysis:

Bitcoin remained volatile around 20481. Peter Brandt, a senior trader, said that the price of bitcoin would not reach a new high until 2024, when bitcoin would be in a huge upward trend.


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




Technical analysis:


According to the 4-hour chart, the short power is maintained in the middle and lower rail section of the Bollinger belt index channel, which continues to vibrate downward, the low position weak and narrow range consolidation, the Bollinger belt index continues to close, the MACD index remains weak in the short area, and the RSI index is in the narrow range consolidation of the short area below the 500 equilibrium line;


Long short turning point: 21053


Pressing position: 21888, 22876


Support position: 19740, 19048


Trading strategy: 21053 down bearish, target 19740, 19048


Alternative strategy: bullish above 21053, target 21888, 22876

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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