On Wednesday morning, Bitcoin fell below $60,000. The current price is at $59,190. The inflow of institutional capital to Bitcoin market sets a record. Central Bank of India: It is necessary to have a more in-depth discussion on cryptocurrency.
From a technical perspective, the daily graph kept going downwards and stopped at 58500. MA formed Death Cross on the high position and converged. Indicators fell back and there were signs of peaking. On H4 graph, Bitcoin formed bottom ladder. MACD rose and RSI kept weakening. 57500 was key point to strengthen from previous period. Overall, prioritise Sell on the high position. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 58500.
Resistance：60000-61300-62300
Support：58500-57500-56000
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