Kursk Region Proposes Cryptocurrency Mining Ban
- Electricity Shortage Risks: Authorities in the Kursk region proposed a ban on cryptocurrency mining across eight border districts and the city of Lgov due to concerns over electricity shortages, damaged infrastructure, and uncontrolled household mining activities, highlighting the urgency of local government regarding power supply stability.
- Temporary Electricity Bill Exemption: Since August 2024, residents in border territories have temporarily stopped receiving electricity bills due to an emergency situation, which could lead to uncontrolled household mining activities, further exacerbating pressure on the power system.
- Regulatory Measures Discussion: The proposal has been sent to the Russian Ministry of Energy and is expected to be discussed at a federal government commission meeting on May 15, and if approved, it could serve as another example of regional cryptocurrency mining restrictions in Russia.
- Decreased Mining Attractiveness: Analysts believe that if the ban is implemented, it will increase oversight of residential electricity consumption, reduce mining attractiveness in certain regions, and potentially encourage more underground mining activities, impacting miners' operational risks.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 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 crypto.
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 | 74651.941 | 76703.296 | 78747.291 | 80798.646 | 82842.641 | 84893.996 | 86937.991 |
| Fibonacci | 76703.296 | 78267.719 | 79234.222 | 80798.646 | 82363.069 | 83329.572 | 84893.996 |
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