Yet another chance for bears, if the price stay under 240 USD

BITFINEX:BTCUSD   Bitcoin / Dollar
282 5 1
It might be the bottom here - or not. I'm neutral, but I see a risk that bears can drag the price lower again, given what the StochRSI shows as signal here. I was very bullish until today, but now bulls have to act faster than bears to keep the bullish momentum they had in the past 4-5 days.
rubenthin PRO
2 years ago
Yes, all those cross downs are followed by downward price action...I will watch this carefully, thanks Chartart
2 years ago
everytime I have high expectation for bull, I'd warn myself the cost of mining, now it's still under 800 RMB to get one BTC.
and the vol for market is too low, Chinese money all went to stock market.
rubenthin PRO Xman
2 years ago
Hi, what do you mean it is under '800 RMB to get one BTC'?
ChartArt rubenthin
2 years ago
zhouhui7777777 explained it here. He means that Chinese miners rather sell than hold BTC, because "cost of mining BTC is around 500 RMB to 800 RMB per coin" and currently miners can sell for more than 1480 RMB.

cost about 500 to 800 RMB to mine a btc, shocked?
rubenthin PRO ChartArt
2 years ago
Thanks Chartart. I think this is pretty healthy. What scares me is when people stop mining because it cannot pay for itself...this is the opposite. If you can mine btc and sell at nearly 100% profit, this is a very healthy miner's market, no?
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