On Monday, Bitcoin weakened and reached the lowest level at US$55163. The circulation of Bitcoin anchor coins exceeded 320,000, and the exchange Bitcoin balance decreased to a 3-year low. Biden: Powell plays an active role in cryptocurrency. Brazil plans to launch a CBDC pilot in 2022.
From a technical perspective, the daily graph closed bearish and formed Death Cross on the high position, then diverged. On H4 graph, bitcoin formed double bottom. The level under 55500 became the key point. Indicators showed overbought signal. Overall, prioritise operation within the fluctuation zone, open positions if there is a breakthrough. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 55500.
Resistance：57400-58500-60000
Support：55500-53600-51800
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