On Thursday, Bitcoin first fell and then rose, with a maximum fluctuation range of 4000 points between the top and bottom and is currently at 40,300. At present, the computing power of the whole Bitcoin network is 111.04 EH/s, and the current difficulty of the whole network is 14.50 T. After the adjustment of spot Bitcoin, the transaction volume has increased, and the volume of transaction worth more than 1 million US dollars is on the rise, accounting for 46.5% of the total transaction volume. The crypto asset amendment to the US Senate's bipartisan infrastructure bill will raise approximately $23 billion through taxation.
From technical perspective, the daily candles are closed bullish candle with lower shadow. Bitcoin repeatedly penetrate through the indicator which show a bullish sign. H4 graph showed fluctuation on a high position at around 41300. The indicator turns from weak to strong and form a double-bottom pattern. Overall, prioritise operation 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 41300.
Resistance：41300-42600-44000
Support：40000-38800-37500
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