On Friday, Bitcoin rose short-term, breaking through the US$48,000, and the current price is at US$48,050. The current 24-hour transaction rate of Bitcoin is 3.21 transactions/sec. It is predicted that the difficulty will increase by 3.14% to 18.99 T next time. The Central Bank of Russia is cautious about using cryptocurrencies for investment purposes. President of the European Central Bank: Stablecoins need to be regulated. Fidelity survey: 90% of investors surveyed believe that digital assets are attractive. The Federal Reserve will announce in November that it will reduce the scale of asset purchases.
From a technical perspective, the daily graph closed bearish. The correction after the sharp drop was completed. H4 graph showed that Bitcoin was relatively strong. Bitcoin moved above the middle BOLL band, MA converged. The indicators were generally bullish. Overall, prioritise operation 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 47000.
Resistance：48500-49500-50300
Support：47000-46200-44400
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