BITCOIN (BTCUSD) – Week 32 – Bigger consolidation?
Talen Energy Corporation, a power business, has announced a partnership with TeraWulf, a bitcoin mining startup, to establish a zero-carbon Bitcoin mining operation. Talen Energy stated in a news release that the joint venture will result in the construction of a 300-megawatt power facility. The statement notes that the partnership dubbed Nautilus Cryptomine leverages the strengths of the two companies, focusing on creating the convergence of clean energy sources and digital infrastructure assets.
Bitcoin trading has always been popular in nations where currencies are steadily declining. Nigeria, a West African country, has always been on the cutting edge of BTC usage in the area. Due to a high young population, the rising popularity of technology, and a rapidly deteriorating currency, people of Africa's most populous country have turned to another alternative for value storage. Earlier in the year, the government of Nigeria announced a country-wide ban on cryptocurrencies. Instructing banking and payment institutions to stop facilitating the buying and selling of digital assets. But despite the ban, bitcoin adoption continues to be on the rise in the country.
Technically, Bitcoin finds itself right now at the resistance area marked on the chart. If the price consolidates in this area or continues higher right away, we give a high probability for a continuation to the upside. If the price makes a sharp pullback, we have to study the structure to see what the price action is telling us. We advise caution, we are at an important price level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Bitcoin trading has always been popular in nations where currencies are steadily declining. Nigeria, a West African country, has always been on the cutting edge of BTC usage in the area. Due to a high young population, the rising popularity of technology, and a rapidly deteriorating currency, people of Africa's most populous country have turned to another alternative for value storage. Earlier in the year, the government of Nigeria announced a country-wide ban on cryptocurrencies. Instructing banking and payment institutions to stop facilitating the buying and selling of digital assets. But despite the ban, bitcoin adoption continues to be on the rise in the country.
Technically, Bitcoin finds itself right now at the resistance area marked on the chart. If the price consolidates in this area or continues higher right away, we give a high probability for a continuation to the upside. If the price makes a sharp pullback, we have to study the structure to see what the price action is telling us. We advise caution, we are at an important price level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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