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Bitcoin: low and weak

2022-06-17
1215
Fundamental analysis:

Bitcoin remained volatile around 20568. US Treasury Secretary Yellen said that Congress must promote digital asset supervision. Earlier, Golden Finance reported that the US Treasury secretary would discuss cryptocurrency with banking executives.


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




Technical comments: the short power continued to fluctuate and fall in the middle and lower rail section of the Bollinger belt index channel. After the low level reached the node near 20071, the Bollinger belt index continued to close. The MACD index maintained a narrow consolidation and upward movement in the short area, and the RSI index maintained a weak oscillation and downward movement in the short area;


Long short turning point: 21073


Pressing position: 21978, 23137


Support position: 19533, 18764


Trading strategy: 21073 down bearish, target 19533, 18764


Alternative strategy: bullish above 21073, target 21978, 23137


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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