In early trading on Thursday, Bitcoin fell rapidly short-term, breaking through US$48,000, and current price is at US$47,800, with an intraday drop of 2%. Data: Asset management companies have a total of 4% of the total supply of Bitcoin. Survey: 40% of Britons approve of the government's to push cryptocurrency legislation. UK FCA: Binance "cannot be effectively supervised." Research report: The cryptocurrency market will more than triple by 2030.
From a technical perspective, the daily candle continues to fluctuate at a high level. $50,000 seems to have become a short-term high point that is difficult to stabilise. The indicators have shrunk, and the upward momentum has slowed down. On H4 graph, the candle has completed the Head and Shoulder pattern. MACD volume shrunk, MA formed Death Cross. Overall, prioritise Sell on the high position 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 47000.
Resistance：48800-49600-50500
Support：47000-46000-45000
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