down Technical analysis Thursday, May 26, 2022 BITCOIN

Key Bitcoin levels to watch: May 26, 2022 In addition, the difficulty adjustment algorithm (DAA) of the BTC network has registered 2 notable peaks since April 27 and reached an all-time high of 31.25 billion on May 10. the price of Bitcoin is down 23% in the last 30 days, making the flagship cryptocurrency less worth mining for.

Following a steady drop to the $30K barrier yesterday, Bitcoin posted a deep rejection sending it below the $29K low. The benchmark cryptocurrency is currently struggling to recapture the $29.5K level as inertia prevents traders from placing bullish bets. That said, BTC miners could take a break in 2 days following a DAA update. Estimates place that the difficulty of mining could fall by 3.67%, from 31.25 billion to 30.11 billion. Those using a Canaan Avalonminer 1246 with 90 TH/s can make an estimated profit of $1.34 per day.

While Bitcoin miners remain profitable, data from ASIC Miner Value suggests that using current BTC exchange rates and electricity costs at $0.12 per kilowatt-hour (kWh), only 27 mining rigs can earn earnings today. resistance levels are at $30,000, $30,600 and $31,000, key support levels are at $29,000, $28,700 and $28,000.

Miners using Bitmain Antiminer S19 Pro+ Hybrid with 198 terahash per second (TH/s) can make a profit of $8.93 per day. The Bitcoin (BTC) network hashrate has remained solidly above the 200 exahash per second (EH/s) mark since hitting an all-time high 2 weeks ago. Interestingly, a report from ASIC Miner Value shows that Bitcoin miners remain profitable despite the challenges that come their way. BTCUSD – Daily chart on Binance. Source: Trading View. Investing.com. Bearish continuation to the $28,700 level in the near term, where BTC would have to struggle to stay near the $30,000 level until the bears tire or embark on a renewed downward spiral below the $27,000 support. On May 20, 2022,

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