HIVE Keeps Increasing Production Despite Bitcoin Decline
Market Perspective: Frank Holmes of Hive Digital Technologies distinguishes between short-term market volatility and long-term infrastructure growth, emphasizing that leverage-driven sell-offs do not change the fundamental value of Bitcoin and data centers.
Shift to High-Performance Computing: Many Bitcoin miners are transitioning to high-performance computing (HPC) as a more stable revenue source, with Hive increasing its Bitcoin production despite rising mining difficulty.
Paraguay's Strategic Role: Hive sees significant potential in developing power and data centers in Paraguay, which is viewed as a pro-American country with a forward-thinking president, providing a reliable income stream from excess electricity sales.
Long-Term Vision: Holmes asserts that while Bitcoin prices may fluctuate in the short term, the focus remains on building durable infrastructure supported by energy and connectivity, which is essential for future growth.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36100.923 | 48050.461 | 60370.943 | 72320.481 | 84640.963 | 96590.501 | 108910.983 |
| Fibonacci | 48050.461 | 57321.609 | 63049.334 | 72320.481 | 81591.629 | 87319.354 | 96590.501 |
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