Bitcoin rose short-term on Thursday and currently is at $46,200. The Bitcoin Core client released the source code of v22.0. The Ukrainian Parliament passed the Virtual Assets Act, which legalized virtual assets such as cryptocurrency in the country. Member of the Indian Parliament: The Indian Cabinet has begun the process of legislation on cryptocurrency. Honduras and Guatemala are considering launching digital currencies. The total amount of DeFi borrowing exceeded US$30 billion, a record high.
From a technical perspective, the daily graph is closed with bearish candle consecutively, but on average the candles were closed with a long lower shadow which means the buy order was stronger. However, the market is still on a bearish trend. On H4 graph, there was a correction after the significant drop. The indicator was relatively bearish, and the market is sideways. 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 47400.
Resistance：47400-48200-49500
Support：45500-44400-42800
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