Bitcoin skyrocketed above the 55,000 on Thursday, and the current price is at $55,200. As the price of Bitcoin rebounded above $55,000, the market value once again exceeded $1 trillion. The October CME Bitcoin futures contract is much higher than the current price trend, and the soaring premium implies increased institutional demand. US news: Digital currency may reduce dependence on the US dollar, the Department of Justice will set up a cryptocurrency enforcement team. In 2022, one-third of the people in United States will use cryptocurrency.
Technically, the daily graph closed bullish continuously, quickly breaking through the previous high at 53000 and the market rose unilaterally. On H4 graph, BOLL widened upward, MA diverged, RSI approached level 80 showing a strong bullish trend. Overall, prioritise Buy 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 50400.
Resistance：57000-58500-60000
Support：54000-53000-51500
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