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Crypto Industry News:
British farmers are becoming more and more creative with the way they source the power to mine BTC ... One of them runs a Bitcoin mining farm there, powered by cow manure energy.
Analyzing Bitcoin's energy footprint, British entrepreneur Josh Riddett figured out a way for farmers to convert methane from cow manure into electricity to extract BTC.
Riddett opened his Easy Crypto Hunter company in Manchester, England in 2017. The company connects computers to renewable energy generators, including farmers who use gases from cow dung to generate energy.
"This is a new way to generate money from these energy areas that is not supported by the government. It's much more independent... In fact, farmers are turning their barn or shed into a mini-data center and making money by renting computing power".
These are 40 mining machines that operate 24 hours a day, 7 days a week. The farm is powered by anaerobic digestion (AD) machines that convert animal animals into energy.
Josh - who was among the delegates at the EU's cryptocurrency summit last year - says, since farmers have been using renewable energy, his company has seen a massive increase in sales to the UK farming community.
Technical Market Outlook:
The BTC/USD pair has hit the 38% Fibonacci retracement located at the level of $41,096 again. The rally had ended with a Pin Bar candlestick formation so far, but in a case of an extension to the upside, the next target for bulls is $41,798 - $43,159 zone. The momentum is strong and positive, so the overall outlook starts to look bullish. The confirmation will come after the $41,798 - $43,159 zone is clearly violated.
Weekly Pivot Points:
WR3 - $51,501
WR2 - $45,102
WR1 - $42,774
Weekly Pivot - $36,903
WS1 - $34, 523
WS2 - $28,705
WS3 - $26,848
Trading Recommendations:
Even despite the recent correction the bulls are still in control of the Bitcoin market, so the up trend continues and the next long term target for Bitcoin is seen at the level of $70,000. Any correction or local pull-back should be used to open the buy orders. This scenario is valid as long as the level of $30,000 is clearly broken on the daily time frame chart (daily candle close below $30k).
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