BTCUSD SELLS??
Updated
Morning all
Interesting on the btc/usd front where I be looking for sells! as it is touching the 2nd best trendline with it looking like a indecision candle as btc is very volatile.
I will also be looking out for any news related based stuff coming out so it dont just spike me out i would rather get out without news triggering me first!
I will also be looking into hedging this pair! if it goes down to 8500 and see where we find support on higher timeframes!
COINTELEGRAPH!
For large miners in Sichuan, China, the current rainy season will allow them to negotiate lower electricity rates. This means some mining centers will be able to secure a 00.03/KW rate which will bring down the cost of mining to about $6,000.
For over-leveraged or small miners outside of China, however, the halving could have a significantly negative impact on their profit margins.
Whether miners are selling more than they mine because BTC is above the breakeven cost of mining in China or over-leveraged miners are capitulating remains unclear.
But, the data points show miners were most likely leading the sell-off of Bitcoin in the $9,300 to $9,400 range, along with retail investors on Coinbase moving to sell BTC.
Interesting on the btc/usd front where I be looking for sells! as it is touching the 2nd best trendline with it looking like a indecision candle as btc is very volatile.
I will also be looking out for any news related based stuff coming out so it dont just spike me out i would rather get out without news triggering me first!
I will also be looking into hedging this pair! if it goes down to 8500 and see where we find support on higher timeframes!
COINTELEGRAPH!
For large miners in Sichuan, China, the current rainy season will allow them to negotiate lower electricity rates. This means some mining centers will be able to secure a 00.03/KW rate which will bring down the cost of mining to about $6,000.
For over-leveraged or small miners outside of China, however, the halving could have a significantly negative impact on their profit margins.
Whether miners are selling more than they mine because BTC is above the breakeven cost of mining in China or over-leveraged miners are capitulating remains unclear.
But, the data points show miners were most likely leading the sell-off of Bitcoin in the $9,300 to $9,400 range, along with retail investors on Coinbase moving to sell BTC.
Comment
AT BREAKEVEN NOWComment
well taken 2% now!Trade closed manually
Break even + 2%
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