On Monday, Bitcoin rose rapidly in a short-term, testing $52,000 but was unsuccessful. It is predicted that the difficulty will increase by 2.82% to 18.11T next time. USDT accounts for about 61.98% of Bitcoin transactions. The Whale Bitcoin has purchased 41580 more BTC in the past 10 days. The total volume staked in Bitcoin Anchor Coins exceeded 14 billion U.S. dollars, which is a new record.
From a technical perspective, the daily candle continued to increase and closed bullish for 5 consecutive days, setting a new high repeatedly. All indicators show bullish sign. On H4 graph, after breaking through the resistance of 50500, bitcoin undergo correction to confirm the bullish trend. MA formed Golden Cross, BOLL diverged upward and MACD volume kept increasing. Overall, prioritise Buy on the low 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 50500.
Resistance：52000-53000-54500
Support：51000-50500-49500
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.