Bitcoin remained oscillating around 17204. Bitcoin mining company HIVE Blockchain produced a total of 4752 bitcoins in 2022, a year-on-year increase of 18%. As of today, HIVE holds a total of 2,348 bitcoins, worth over $38 million. According to HIVE, in the fourth quarter of 2022, HIVE strategically sold some bitcoins to increase cash reserves and fund expansion opportunities in bear markets.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum in the market continues to fluctuate and rise. After the short-term bullish sentiment has risen, it retreats when encountering resistance. The MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone.
Long-short turning point: 17156
Repression: 17269, 17338
Support: 17074, 16997
Trading strategy: Bullish above 17156, target 17269, 17338
Alternative strategy: bearish below 17156, target 17074, 16997