NewsNovo
Bitcoin miners are sending conflicting signals, according to analysis from ChartMill: technical indicators point to strength, while the underlying business fundamentals are moving in the opposite direction.
The divergence matters because $BTC mining stocks often serve as a leveraged proxy for Bitcoin itself — when the two readings split, one of them is eventually proven wrong.
When the Chart and the Balance Sheet Disagree Technical analysis and fundamental analysis ask different questions. Charts ask where price has been and where momentum is pointing.
Fundamentals ask whether the business generating that price action can sustain itself. ChartMill's read on Bitcoin miners argues that the technical picture looks constructive even as the fundamental picture deteriorates.
Keep reading