On Tuesday, Bitcoin went up and fell back reaching the lowest point at $53,898. The current price is at $56,100. The number of BTC profitable addresses reached a 5-month high. Research organization CFRA: The approval of the Bitcoin futures ETF may be delayed until 2022. IMF: National regulatory agencies should closely monitor encryption risks and implement global standards. Russia will not ban crypto transactions. Report: More than 100 million Indians own cryptocurrency. European Central Bank: Bitcoin's cross-border payment advantage only stems from regulatory arbitrage.
From a technical perspective, the daily graph closed bearish after it went up continuously. Bullish momentum has weakened but the indicator was still bullish. On H4 graph, bitcoin was still within an upwards channel. The bullish signal on MACD has weakened. MA converges at the high position. 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 55000.
Resistance：56600-57800-59600
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