On Friday Asia session, Bitcoin fell and then rose, returned to above $49,000. The current price is at $49,000. Bitcoin futures trading volume in August climbed to 1.73 trillion U.S. dollars, and the monthly spot trading volume of cryptocurrencies exceeded 1 trillion U.S. dollars for the first time since May. The Indian government plans to propose a bill to treat cryptocurrency as a commodity. Argentina Central Bank: The central bank is monitoring cryptocurrencies. Report: One-sixth of Australians hold cryptocurrencies, with a total value of up to US$8 billion.
From a technical perspective, the daily candle continuously bullish, to create a short-term new high. The indicators remained relatively strong. On H4 graph, BOLL continues to be flat and 50500 has become a key resistance. Overall, priorities operation within the fluctuation zone. Open position when there is a breakthrough. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 50500.
Resistance：50500-51500-52600
Support：48600-47500-46200
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.