On Wednesday, Bitcoin rose rapidly in the short-term, breaking through the US$49,000 mark, and the current price is at US$49,500, with an intraday increase of 3.2%. Bitcoin miners’ income in August exceeded US$1.4 billion. The Monetary Authority of Singapore added Binance to the list of warnings for unlicensed websites. Data shows that Afghans are turning to cryptocurrency to protect their property. Bakkt survey: Nearly half of American consumers have invested in cryptocurrencies.
From a technical perspective, the daily candle closed bullish, and it tested the recent highs in the early trading. The overall indicators were bullish. On the H4 graph, the candle formed an effective W double bottom in a short term. Focus on 50500. Overall, prioritise Buy 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 50500.
Resistance：49600-40500-52600
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