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06.08.201807:46 Forex Analysis & Reviews: Bitcoin analysis for 06/08/2018

Long-term review

Canaan Creative released the world's first TV for Bitcoin mining - AvalonMiner Inside. The second largest mining equipment manufacturer in the world thus introduces innovation to its product line, according to the South China Morning Post.

The TV can process 2.8 trillion hares per second at 100 W / T, compared to the most powerful mining platform processing 11 trillion hash per second. This power seems quite decent considering that you can not watch TV on a typical mining platform.

Canaan says that the TV is powered by artificial intelligence and has voice control. It will also apparently calculate the profitability of Bitcoin extraction in real time."The digital currency can be used to buy entertainment content or physical gifts through the Canaan platform" - we read in the message.

Canaan TV can be reportedly controlled using voice commands and is able to calculate the profitability of cryptocurrency extraction in real time.

The AvalonMiner is a 43-inch model with a 4K resolution. His price for this moment has not yet been given. Canaan plans to expand its market base, using more household appliances to extract.

The creativity of the cryptocurrency miners has no limits.

Let's now take a look at Bitcoin technical picture at the H4 time frame. The market has dropped to the level of $6,849, which is just slightly above the important invalidation level for the whole impulsive scenario that is located at $6,782. The current Pin Bar formation might give the bulls some hope the downtrend is completed, but any spike below the mentioned level would mean the downtrend continuation in fact. Moreover, the price is trading below the weekly pivot at the level of $7,283 and below the local technical resistance at the level of $7,176. The current bias is still poised to the downside.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2021
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