Bitcoin: low and weak sorting

Bitcoin remained volatile around 20188. According to the data compiled by industry participants, private and publicly listed cryptocurrency miners have accumulated debts of $2billion to $4billion to finance their construction of huge facilities in North America. With the sharp decline in the value of miners' output and the maturity of debt in the bear market, cryptocurrency miners are facing the notice of margin increase, or will have to sell bitcoin and mining equipment.

According to the 4-hour chart, the low level remained in the narrow range consolidation and translation in the Bollinger belt index channel for a long time. During this period, the multi air power repeatedly spied the upper and lower rail section nodes. The Bollinger belt index showed a slow opening trend. The MACD index hovered under the 0 axis, and the RSI index was in the narrow range consolidation under the 50 equilibrium line;

Long short turning point: 20797

Pressing position: 21526, 22277

Support position: 19568, 18976

Trading strategy: 20797 down bearish, target 19568, 18976

Alternative strategy: bullish above 20797, goals 21526 and 22277