Through miners. Why do they mine? Some of them just for fun but the vast majority because they earn money this way. When do they earn money? To make the story short – when their costs are lower than their income. What is the major cost of their operational activity? Electricity. Read more in our analysis.
In today's (November 16) video analysis (see updates below), I discuss:
BTC analysis for daily chart:
We are printing a red 9 on the TD with no signs of reversal just yet. The hammer would have been bullish if we start climbing at least $100-200 in price. For now, it looks more bearish.
The weekly candle closes in 3 days and we are fast approaching a close below the $5500 order block. If this happens then the prediction of the next OB will come true fast: $3000-$4800.