In Friday morning, Bitcoin rose short-term, after testing 47,000 US dollars, it fell back, and currently is at 46,760 US dollars, with an intraday increase of 1.2%. USDT accounts for approximately 57.28% of Bitcoin transactions. Governor of the Central Bank of India: There are major concerns about cryptocurrencies. President of the Central Bank of Mexico: Bitcoin is a precious metal to a greater extent. Bloomberg: With the entry into force of the Bitcoin law, El Salvador’s bond investors have suffered. The country’s GDP in 2020 will be less than one-third of the Bitcoin market value.
From a technical perspective, Bitcoin's trend was relatively stable. There was a correction after a sharp drop and the indicators were relatively bearish. On H4 graph, Bitcoin kept fluctuating within the interval of 47400-45500. MA converges and lacked directions. MACD had no improvement. 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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