On Wednesday, Bitcoin continued to weaken rapidly, breaking through 32,000 initial support points in early trading, and test the lowest point arount 31642. The current Bitcoin spread over the yearly period is 4.85%, down 0.56% from the previous day. The computing power of the entire network is 95.33 EH/s, and the 24-hour transaction rate is 2.62 txs/s. VISA approved the first physical debit card for bitcoin consumption. Report: China's national blockchain industry will reach 2.78 billion yuan in 2020, a growth rate of 33.7%. Technically, Bitcoin's daily candle continues to be bearish, and the moving average is under resistance. The 4-hour chart shows a downward channel, the candle pattern shows possibility of a quick drop and all indicators shows bearish signal. Focus on the key initial support level 31000-30000. Overall, prioritize selling at high prices within the fluctuation zone. The deciding point whether to buy or sell is near 30000.
Resistance：32300-33300-34200
Support：31000-30000-28800
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