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The upsurge of encryption companies' listing through spac is facing a downward trend
2022-06-06
1317
Fundamental analysis:
Bitcoin remained volatile around 29517. Special purpose acquisition company (SPAC) is the most popular listing method on Wall Street, as is the case for encryption companies. However, with the overall decline of the market and the new regulations of the US SEC, this upsurge has cooled down.
Bitcoin btcusdt - 4-hour K-line diagram display:
Technical comments: the short power continued to fluctuate downward in the middle and lower track of the Bollinger belt index channel, and there was no sign of stopping in the short-term downward trend. The Bollinger belt index was moving downward, the MACD index was in a weak position near the 0 axis, and the RSI index was in a stable position below the 50 equilibrium line;
Long short turning point: 29962
Pressing position: 31189, 32116
Support position: 28766, 27778
Trading strategy: down 29962, target 28766, 27778
Alternative strategy: bullish above 29962, targets 31189 and 32116
The above analysis is a personal point of view and is for reference only.
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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