Bitcoin rebounded after falling in early trading on Wednesday, reaching the lowest point at 39,578 US dollars, and now is at 42,000 US dollars. Yesterday, there were 566 transactions of more than 500 BTC on the Bitcoin chain, and the number of large transactions in a single day was the highest since March 13, 2020. The premium rate per share of the Grayscale BTC fund is -16.68%, which has been negative for more than 6 consecutive months. Bridgewater Fund: Bitcoin has an estimated value rather than an intrinsic value. US SEC Chairman: I hope to "include cryptocurrency into the public policy framework."
From a technical perspective, the daily candle kept closing by bearish candle. The bearish sentiment was strong, and the indicator showed bearish sign. On H4 graph, the trend was bullish and formed morning star and double bottom pattern. The indicator was bullish. 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 42800.
Resistance：42800-44000-46000
Support：41500-40000-37000
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