Uzbekistan Establishes Crypto Mining Valley
- Tax Incentives: Uzbekistan's establishment of the Besqala Mining Valley in the autonomous Republic of Karakalpakstan will grant cryptocurrency miners nearly a decade-long tax exemption, aiming to attract more mining enterprises and enhance the country's competitiveness in Central Asia.
- Renewable Energy Support: The region promises miners unimpeded access to the national power grid, with electricity primarily sourced from renewable energy and hydrogen power plants, ensuring sustainability and environmental responsibility in mining operations.
- Market Access Facilitation: Miners will be authorized to sell extracted digital assets on both domestic and international crypto trading platforms, and all companies engaged in Bitcoin-related activities must apply for licenses from the National Agency for Prospective Projects, streamlining market entry processes.
- Industry Development Potential: Although Uzbekistan is a latecomer in the crypto mining sector, the establishment of a special economic zone and the issuance of its first mining permit demonstrate its determination to secure a foothold in the Central Asian market, especially as neighboring Kazakhstan faces rising electricity prices.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 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 | 70210.647 | 72516.108 | 74874.737 | 77180.198 | 79538.827 | 81844.288 | 84202.917 |
| Fibonacci | 72516.108 | 74297.791 | 75398.516 | 77180.198 | 78961.881 | 80062.606 | 81844.288 |
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