BTC: Consolidating the downside

Bitcoin remained volatile around 22966. Bitcoin miner Riot said that due to the winter storm that hit the United States in December and caused miners to go offline, its first-quarter hash rate guidance of 12.5 EH/s will be delayed. In January, it mined 740 bitcoins, a 12 percent increase from last month when storms knocked out power. Of the 2.5 EH/s affected by pipeline damage in both buildings, a total of 0.6 EH/s have been brought back online, leaving 1.9 EH/s remaining.

Bitcoin BTCUSD - 4-hour K-line chart shows:

Looking at the 4-hour chart: The high-level short-term momentum maintains a ladder-style shock downward, and after a short-term maintenance within a narrow range, it will continue to move downward. The MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;

Long-short turning point: 23063

Compression: 23280, 23511

Support: 22729, 22571

Trading strategy: bearish below 23063, target 22729, 22571

Alternative strategy: call above 23063, target 23280, 23511