Bitcoin continued its upward trend on Wednesday, breaking new highs and reaching 46,729. Data: The total market value of cryptocurrencies has returned to above 2 trillion US dollars, and the Bitcoin network has added 1.2 million users in the past 30 days. Goldman Sachs: Exchange tokens and PoS assets outperform the broader crypto market. The amount of venture capital investment in India's crypto industry in 2021 is four times that of the entire year of last year.
From technical perspective, the daily candles continued to rise and closed bullish. The resistance at the top gradually highlighting the increased risk of a correction. The indicators are still bullish. On H4 graph, it still maintains the rising triangle structure. MA slows down, other indicators are still bullish. Overall, if the market does not break the new high-level, there is a chance to take Sell position. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 46750.
Resistance：46750-48000-50000
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