In this episode of NewsBTC’s daily technical analysis videos, we examine Bitcoin price following the October monthly close and new November candle open.
Take a look at the video below:
Last night on Halloween we also had the October monthly BTCUSD candle close, which brought with it the start of a new November monthly candle and a reset of technical indicators.
BTC Cost of Production On Par With 2018 Bear Market
To start, we are looking at the cost to produce each BTC. Bitcoin is now just about on par with the 2018 bear market for the longest time below the cost of production metric. But this also could suggest at least another month of sideways price action.
Bitcoin is below the cost to produce each coin for most miners BTCUSD November 1, 2022″ width=”500″ height=”281″ src=”https://www.youtube.com/embed/Ym2_Fqs7JqA?feature=oembed” frameborder=”0″ allowfullscreen=”allowfullscreen”>
To start, we are looking at the cost to produce each BTC. Bitcoin is now just about on par with the 2018 bear market for the longest time below the cost of production metric. But this also could suggest at least another month of sideways price action.
Bitcoin is below the cost to produce each coin for most miners
Regulators in Washington on Thursday cleared a major step that lets Americans trade spot Bitcoin…
Bitcoin is again trading under the shadow of a potential yen carry-trade shock as markets…
The one-month chart shows BTC still locked inside a descending structure from early November’s highs,…
On-chain analytics firm Glassnode has pointed out how the current Bitcoin market is reminiscent to…
A softer inflation report could lower the 10-year Treasury yield and support cryptocurrencies.Read MoreCoinDesk: Bitcoin,…
Spot XRP ETFs have now attracted nearly $850 million in inflows since launching in mid-November…