On Monday morning, Bitcoin went upward and fell back. The current price is at $47,600. Parliamentarians of the Kingdom of Tonga propose to make Bitcoin a legal currency. Data: False remittances for virtual currency transactions in South Korea amounted to 750 million U.S. dollars. Report: Bitcoin's dominance has declined. Chairman of the Federal Reserve: There is no intention to ban or restrict the use of cryptocurrencies. There is a 75% chance that the US Bitcoin ETF will be approved this month.
From a technical perspective, the weekly candle was stable and closed bullish. After closing with a bullish candle, the daily graph formed Doji Star and moved above middle BOLL band. MA formed Golden Cross. MACD was around 0 axis. On H4 graph, the graph went upward and fell back. There was a strong resistance from above and currently the market is sideways. Short term indicator showed bullish sign. 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 44300.
Resistance：48500-49200-50000
Support：47000-45500-44400
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