BTCUSD Bear scenario .
Price forming bear Wedge.
-Suppy zone in 11.791,00 ~ aprox.
-drop target 10.552,00 USD$.
*Waiting for retest , and rejection candle.
Fundamentals :
The Chinese province of Sichuan that used to provide a high percentage of hash power for the Bitcoin network has been flooded, this has caused a rise in the cost of gas, in btc transactions and also a drop in the demand for BTC.
Is this the time to abandon the proof of work? We are about to know them in the times to come.
-Suppy zone in 11.791,00 ~ aprox.
-drop target 10.552,00 USD$.
*Waiting for retest , and rejection candle.
Fundamentals :
The Chinese province of Sichuan that used to provide a high percentage of hash power for the Bitcoin network has been flooded, this has caused a rise in the cost of gas, in btc transactions and also a drop in the demand for BTC.
Is this the time to abandon the proof of work? We are about to know them in the times to come.
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