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
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