Coin Sheet - July 24, 2017

◤WHAT PEOPLE ARE TALKING ABOUT

Recovery: The global cryptocurrency marketcap is now at around $95 billion.

In Fake News: Remember how yesterday I wrote that the "Rothschild bought some Bitcoin via a Bitcoin Investment Trust," yeah...that was fake news. I got bamboozled. People in that industry have a funny way of playing games with names. Read more here.

In Adoption: Apparently Bollywood celebs are going bonkers over Bitcoin. #Edgy.

Regulation Station: New Zealand's Reserve Bank says "nope" to intrusive regulations.

Parity announced their bug bounty program, which is you know, probably a good idea.


◤THINGS I LIKE

Jeff Garzik's plan to avoid a Bitcoin split (his interview with CoinDesk).

This article by BlockMason about Ethereum and ICOs. Oh, and the article has a bunch of neat comics like the one below.


◤MARKET SENTIMENT

7242017.png

BTCUSD, GDAX 4-hour, 7/24/2017 8:00AM

BTCUSD, GDAX 4-hour, 7/24/2017 8:00AM

ETHUSD, GDAX 4-hour, 7/24/2017 8:00AM

LTCUSD, GDAX 4-hour, 7/24/2017 8:00AM

In addition to the technical indicators, today I included 3 charts to outline the bull/bear pressure for you. Now you have to ask yourself this question, how easy is for the market to go down and compare it to how difficult it is for the market to go up.

Do ya'll see how the charts are almost identical? This is because Bitcoin is the market driver. Since everything is measured against Bitcoin, a price change in Bitcoin tends to reflect across the entire market. This is why I am less worried around the technical indicators for ETH and LTC. If the technical indicators are bullish for BTC, ETH and LTC will likely follow, like obedient children.

Looking at the indicators, we will likely see some bearish activity today. There might be some opportunities to buy on the small dips. Overall, the clout of Bitcoin will probably be strong enough to pull everyone out.

What is this? Read here

◤QUOTE OF THE DAY

Remember, I am neither a bear nor a bull, I am an agnostic opportunist. I want to make money short- and long-term. I want to find good situations and exploit them.
— Jim Cramer

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