Posts

Bitcoin Technical & Sentimental Analysis 07-24-21

avatar of @xuanling11
25
xuanling11
@xuanling11
·
·
0 views
·
1 min read

Technical Analysis

Bitcoins opens at $32K. It hits lowest at $32K and highest at $34K and stable around $32K ~ $33K. The average transaction fee is $2.78 which is 41.84% increase from 07-23-21. Fear and Greed level is at 22.

Here are some highlights to support my analysis: Bitcoin Value = $28k ~ $35k and my position is Long. Today’s sentimental news and comments:

Bullish News 📈

Robinhood IPO brands like crypto companies. Interesting that corporations want a ride with crypto to the moon. It can go both ways, too far from the valuation to the moon or too risky that investors stay away. It will create ultimate meme assets in coming years.

Bearish News 📉

Tesla holds Bitcoin but the internet does not care anymore. Recent uptrend movement seems like another pump and dump with celebrities like Elon Musk, Jack Dorsey and Cathie Woods. Although I am still upvoting Bitcoin, the rally does not give a sustainable uptrend. Of course, I could be wrong.

New York town wants to ban Bitcoin mining through an impost 90-day moratorium ban. The reason is too many people are flooding into town to set up mining equipment through buying up their farmland. Local people are not happy about their lands bought up to farm Bitcoin but no food. I can see the problem with foreign invasion of local people to try to take advantage of cheap local resources. Isn't that how capitalism works?

Also, if you have any suggestions, please do not hesitate to let me know!

Thanks for reading and see you tomorrow!

Posted Using LeoFinance Beta