💲 59k - 💲 58k is major support for #BTC🌪️.

After #bitcoinhalving event there is a obvious selling pressure from the miners because of after each halving miner’s reward goes half.

While the electricity cost and maintenance cost remains same so that to cover this expenses miners had to sell their accumulated btc for upcoming 3-6months.

Miners also know that after the bitcoin halving btc price will shoot up definately so that they will not sell all of their mined bitcoin rather sell some portion of it.

Meanwhile Runes and brc20 tokens are so popular these days which results more transactions on bitcoin network which increases the more txn to mine for miners.

More mining generate more btc for miners.

Ultimately Runes and brc20 txn are covering the sell of by the miners but we estimate that miners will sell less before previous halving due to this reasons.

Whereas Technicals says Different story

Monthly chart MACD both lines are spread more and tend to fall to middle line in 2-4 months.

Meanwhile StochRSI already started to falling that indicates the little bearishness for the short time.