(10/14, Thu) btc supported once again at the 50MA of the 4hr chart and kept the sentiment for uptrend

Yesterday(10/13 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $56030, its lowest as $54265, its highest as $57865, its closing as $57420. Bitcoin went sideways after the start of Wednesday and started declining from 04:30, dropping $2,000 and reaching the bottom at 09:00, then consolidating again and starting sharply rebounding from 14:15, breaking through $56k in an hour. And After breaking through 57k at 19:00, it reached a high close to a short-term high at 22:00, and then declined, ending up with a final increase of 2.5%.

Looking at the 4-hour chart, Bitcoin, which was supported at 50 MA the day before, was supported at 50 MA once again yesterday and rose again to a short-term high, and the trading volume was maintained above average, creating a good mood. On the daily chart, there came a pattern that could reverse the previous day's decline and continue to carry expectations for an uptrend.

According to a news from the cryptocurrency industry, it is said that the No. 1 market share in Bitcoin mining has moved to the United States. This is positive news for the cryptocurrency market as a result of the migration of mining pools to the United States after mining was banned in China. The US SEC has announced that it does not ban the cryptocurrency industry, and as many investment companies and individuals have invested in cryptocurrency, it is understandable that the industry will be encouraged through appropriate regulations.

In the meantime, Ethereum and other altcoins, which were held down by the dominance of Bitcoin until the previous day, feel like they are starting to rise. As I said yesterday, if there is one more week left for the rise of Bitcoin, it is possible to predict that Ethereum, which has taken over the baton, will rise three more weeks after that, with a target price of $5500.