Bitcoin fluctuated around 20678, BTC prices continued to fall, and the mining difficulty and hash rate of bitcoin returned to the high point. The latest data on the chain showed that the hash rate and difficulty did not decrease, but increased rapidly. It is expected that the difficulty will increase by 6.8% next week. According to the monitoring data of btc.com on the chain, this will be the highest adjustment of upward difficulty since January this year.
Bitcoin btcusd - 4-hour K-line diagram shows:
According to the 4-hour chart, the power of low short positions maintains a narrow range of oscillation. After falling below the previous low in the short term, there is a trend of continued downward movement. MACD index is at the lower side of the 0 axis of weak consolidation, and RSI index is at the lower side of the narrow range of short positions;
Long and short turning point: 20790
Pressing position: 21116, 21442
Support position: 20354, 19953
Trading strategy: bearish below 20790, target 20354, 19953
Alternative strategy: bullish above 20790, targets 21116 and 21442