On Thursday, Bitcoin continued to weaken under pressure and tested a low of 31131. On Friday morning, Bitcoin rebounded and is currently at around 31900. Since May 21, the number of addresses holding more than 100,000 bitcoins stood at 9.12 million. The current Bitcoin price spread over the yearly period is 5.36%, down 0.05% from the previous day. Square will build an open developer platform focused on Bitcoin. Fed Chair Powell: The Fed wants Congress to support central bank digital currencies. From a technical perspective, Bitcoin's closed with a large bearish candle, the MA diverged to the downside, and the market's bearish sentiment was strong. The 4-hour chart shows a ladder bottom pattern, the bitcoin candle reaches bottom position. However, the trend has not changed, and the indicators are also likely to be bearish. Overall, prioritize selling at high prices within the fluctuation zone. The deciding point whether to buy or sell is near 31500
Resistance：32300-33200-34300
Support：31500-31000-30000
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice