On Friday, BTC rose in a short-term, breaking through the US$47,000 mark, and is now at US$47,100, with an intraday increase of 1.1%. The Governor of the Bank of Indonesia: Bank of Indonesia will launch a blockchain-based digital rupiah. Governor of Brazil’s Central Bank: Regulators need to pay more attention to investors’ demand for cryptocurrencies. Bloomberg: Satoshi Nakamoto, the father of Bitcoin, may have passed away 7 years ago. Deloitte survey: 78% of respondents believe that digital assets will be important in 2 years.
From a technical perspective, Bitcoin closed bullish after falling continuously, showing an engulfing pattern. Structurally, there is a greater opportunity for continued upward movement. H4 graph showed a correction on high positions, MA converges, RSI is above the 50-deciding point, the indicators are generally neutral. Overall, prioritise Sell 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 48100.
Resistance：47700-48100-50000
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