BTC: high retracement

Bitcoin remained volatile around 24451. Bitcoin Well, a Canadian Bitcoin ATM operator, today announced its Q4 and full-year financial reports for last year. The report shows that the revenue in the fourth quarter of last year was 18.3 million Canadian dollars, an increase of 27% year-on-year; the gross profit in the fourth quarter also increased to 1.2 million Canadian dollars, compared with 900,000 Canadian dollars in the same period last year, an increase of 26%; EBITDA was -C$200,000 compared to -C$2.3 million in the same period last year, an increase of 90%.

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

Looking at the 4-hour chart: the bullish momentum continued to fluctuate and rise, short-term resistance moved down, the market’s bearish sentiment continued, the MACD index hovered at a high level in the bullish area, and the RSI index hovered weakly near the 80 equilibrium line in the high overbought area and then moved down;

Long and short turning point: 24589

Suppression: 24846, 25103

Support: 24214, 23965

Trading strategy: bearish below 24589, target 24214, 23965

Alternative strategy: call above 24589, target 24846, 25103