Bitcoin bottomed out in early trading on Wednesday and rebounded and currently fell back to $42,300. The percentage of Bitcoin profitable addresses fell to a 1-month low; the average payment fee reached an 11-month low, and the supply of Bitcoin that had not been active for more than ten years reached a record high. Foreign media: Bitmain plans to suspend the sale of mining machines in China. Report: Europe has become the world's largest crypto economy, with a transaction volume of more than $1 trillion. Survey: 62% of institutions will start investing in cryptocurrencies within a year.
From a technical perspective, the daily graph was still closed by bearish and showed bearish sign. The indicators showed no signs of stabilization. On H4 graph, bitcoin was sideways below the BOLL, touched the lower BOLL band and rebounded. MACD kept showing bearish sign. 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 40600.
Resistance：43400-44400-45100
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