QUOTE OF THE DAY
"None are more hopelessly enslaved than those who falsely believe they are free."
-Johann Wolfgang von Goethe
Segwit Is Official
I know you're exhausted about hearing "Segwit this," and "Segwit that," but it's finally official. Segregated Witness will activate on Bitcoin. Read more about this here.
So yes, Bitcoin price wobbles as SegWit activation is locked in. Wait a second, isn't this exactly what everyone's been saying for like weeks?
I guess you're not the only one exhausted about Segwit.
They See Me ICOoo'ing, They Hating'
According to Bloomberg, a company co-owned by one of President Vladimir Putin’s internet advisers plans to raise the cryptocurrency equivalent of as much as $100 million in a push to help Russian entrepreneurs challenge China in bitcoin mining.
Putin's buddy (I actually don't know if it's really Putin's buddy, but you know, using Putin's name gets clicks...so today he is Putin's buddy!) is planning to do an Initial Coin Offering (ICO) to raise about $100 millions dollar worth of (what I presume is) Ether and Bitcoin.
Their "advantage" is that they intend to use semiconductor chips designed in Russia for use in satellites to minimize power consumption in computers for crypto-mining. Neat.
That's definitely how you Putin the DE back into decentralized. Get it, Put in....I'll shut up now.
THINGS I LIKE
This neat article in the NYTimes titled Despite S.E.C. Warning, Wave of Initial Coin Offerings Grows.
Well obviously! We can't let Russia win!
My thought is that the market is going to give us a short-term correction to the previous support levels Remember, we did just have pretty significant upward movement, so this is expected, and I would say, healthy.
Also, the list of "technical signals" above is just that, a list of technical signals. They are not related to how I determine "crowd sentiment" or "influencer sentiment."
With that said, I am currently short-term bearish.
My Current Sentiment: Bearish
Daily Number Indicator
For today's Daily Number Indicator I'm going to share 2 charts I tweeted yesterday night.
And since there are always questions with this indicator, I'll try to answer some of them here.
What is this?
This is a number indicator used to identify a price point where an uptrend or a downtrend exhausts itself and reverses. It gives you a recommendation where to buy and where to sell.
What are we looking at?
- A series of nine candles that close higher or lower than the close 4 candles earlier.
When is there a buy recommendation?
- When you see 9 consecutive closes “lower” than the close 4 bars prior.
- An ideal buy is when the low of bars 6 and 7 in the count are exceeded by the low of bars 8 or 9.
When is there a sell recommendation?
- When you see 9 consecutive closes “higher” than the close 4 candles prior.
- An ideal sell is when when the the high of bars 6 and 7 in the count are exceeded by the high of bars 8 or 9.
Have suggestions? Questions? Want To Say Hi?
Let me know on Twitter @dmitriy_or_dima.
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