On Monday morning, BTC rose short-term, breaking through the US$48,000 mark, reaching a maximum of US$48031 with an intraday increase of 4.1%. The current price of Bitcoin is 47,400. The current market value of Bitcoin accounts for 42.8% of the entire network. Bitcoin's entire network's computing power bottomed out and rebounded by more than 100%, returning to above 120EH/s. Data: 14% of Americans own cryptocurrency. Report: 13 major banks around the world have invested US$3 billion in crypto and blockchain.
From a technical perspective, the weekly candles closed by four consecutive bullish candles, the bullish trends are strong. The daily candles shoot high in the early trading. Currently, 48000-50000 is the most critical resistance zone for Bitcoin. H4 graph maintains the upward channel. The indicators show mixed result. 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 48000.
Resistance：48000-49000-50000
Support：46000-45400-44000
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