Encryption store magic store allows users to borrow NFT and other digital assets

Fundamental analysis:

Bitcoin remained volatile around 31693. Magic store, an encrypted community app store, recently announced the integration of IQ protocol into its ecosystem. Through this integration, magic store users can now borrow NFT and other digital assets. It is said that IQ protocol is a unsecured defi protocol, which provides standard defi services, such as pledge and loan.

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

Technical comments: the bull power continued for less than two years, and the multi index continued to fluctuate and rise near the track. In the short term, the bull power began to consolidate after it was near the node of 32337. The short-term bull power continued to move upward. The Bollinger belt index continued to open slowly. The MACD index maintained consolidation and translation in the bull area on the 0 axis, and the RSI index was at 50 equilibrium, and remained high on the online side;

Long short turning point: 31059

Pressing position: 32632, 33624

Support position: 30033, 28973

Trading strategy: bullish above 31059, target 32632, 33624

Alternative strategy: bearish below 31059, targets 30033 and 28973

The above analysis is a personal point of view and is for reference only.