On Monday morning, Bitcoin rose short-term and broke through $50,000. Bitcoin is currently trading at around $50,150 with an intraday increase of 3,5%. The market value of Bitcoin accounts for 42.5% of the entire network, with a computing power of 124.30EH/s. The current difficulty of the entire network is 15.56 T. The global cryptocurrency market value has risen to US$2.2 trillion, gradually approaching a historical high of US$2.55 trillion. Forbes: The US Congress has introduced 18 encryption and blockchain-related bills this year. The total lock-up volume of BTC anchor coins has reached 13.4 billion U.S. dollars, a record high.
From a technical perspective, Bitcoin has formed 5 consecutive bullish weekly candles. The daily candle has risen by about 75% since the lowest point. H4 graph showed an upward channel, and the indicators show bullish signs. Overall prioritise Buy on low on fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 48.000.
Resistance：51200-52600-54500
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