Last week, Bitcoin broke through the recent key resistance at 41300 and increased to 42563 but fall quickly short after. Bitcoin continued the downtrend on Monday morning and currently fluctuates around 39800. The current price spread of Bitcoin during the annualization period is 10.88%, an increase of 1.12% from the previous day. The current market value of Bitcoin has risen to 45.6%. In July, the total income of Bitcoin miners was 28,900 BTC, an increase of 23.46% from the previous month. Foreign media: Saudi Aramco plans to mine Bitcoin.
From technical perspective, the weekly candle closed bullish, and the market is still strong. The daily candles rose and fell and closed by Doji Star. H4 graph retracement for three times. The indicators showed signs of weakening. Overall, prioritise Buy on low positions within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 40600.
Resistance：40600-41600-42600
Support：38800-38300-36400
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