The words in this language are those where when you take the alternating sum of the bits, you get something that is divisible by $4$ (hence the $\equiv 0 \bmod 4$ part). So for example $111010101$ is in the language since $1-1+1-0+1-0+1-0+1 = 4$ is divisible by $4$.
Intuitively, as you proceed through the string, if you keep track of the alternating sign ($+$ or $-$) and the remainder modulo $4$, then if you end up with $0$ then your string is valid.
So let the states be the remainders modulo $4$ modified by a $+$ or $-$ symbol—that is:
$$\begin{array}{cc} 0^+ & 0^- \\ 1^+ & 1^- \\ 2^+ & 2^- \\ 3^+ & 3^- \end{array}$$
The start state is $0^+$ and the accept states are $0^+$ and $0^-$.
Each bit flips the sign and adds or subtracts $0$ or $1$ modulo $4$—specifically, if you're in state $r^{\pm}$, then $w$ sends you to $(r \pm w \bmod 4)^{\mp}$, where the $\pm$ sign matches that of the original state $r^{\pm}$ and $\mp$ is the opposite sign. For example $q(3^-, 1) = 2^+$ and $q(1^+, 0) = 1^-$.
See if you can make this formal, and figure out the details of the regular expression.