BTC: Shock and rise

Bitcoin remained volatile around 22113. At present, the market still has concerns about risk assets such as cryptocurrencies. Investors are not sure whether major risk assets such as Bitcoin will rebound in a bear market or bottom out. The price trend of Bitcoin in February is extremely challenging , has recently begun to fall from the $24,000 resistance level to the $21,750 support level, and is forming a terrible head and shoulders pattern, so overall, Bitcoin has not really come out of the woods yet.

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

Looking at the 4-hour chart: the low-level bullish momentum continues to fluctuate and rise, and the short-term bullish momentum continues to rise. The bullish sentiment in the market begins to emerge slowly. The MACD indicator is in the bearish area and continues to move up. The RSI indicator is hovering around the 50 balance line;

Long-short turning point: 22011

Compression: 22312, 22505

Support: 21824, 21659

Trading strategy: Bullish above 22011, target 22312, 22505

Alternative strategy: bearish below 22011, target 21824, 21659