On Friday early session, Bitcoin increased and fell back, breaking the US$47,000 mark and currently is trading at around US$46,700. The 7-day average value of Bitcoin network transactions reached US$188 billion, setting a historical record. The 24-hour transaction rate is 3.08 transactions/sec, and the current network difficulty is 17.62T. Cuba recognizes and supervises cryptocurrencies. The Grayscale Bitcoin Trust has been unlocked; the last Trust will unlock 58 pieces on August 25.
From a technical perspective, Bitcoin's daily candle continued to be under pressure and closed bearish. Bitcoin continues to move above the middle BOLL band, but the upward trend remains unchanged. H4 graph shows that Bitcoin fell from high position, MA formed Death Cross, MACD volume dropped, RSI slowly went downward. 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 46000.
Resistance：47600-49300-50500
Support：46000-44800-43800
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