Bitcoin Technical & Sentimental Analysis 07-26-21

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Bitcoins opens at $34K. It hits lowest at $34K and highest at $39K and stable around $37K ~ $38K. The average transaction fee is $1.95 which is 12.95% decrease from 07-25-21. Fear and Greed level is at 26.

Here are some highlights to support my analysis:
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Bitcoin Value = $28k ~ $40k and my position is Long.
Today’s sentimental news and comments:

Bullish News 📈

Rumors sent Bitcoin to $40K. It is just dangerous as rumors did. Nothing good news here but just speculation pumps Bitcoin in short term gain but not sustainable in long term.

Bearish News 📉

The South Korean government is looking into tax codes to seize crypto assets held in tax dodgers’ wallets. Government sees crypto as revenue generating resources and they want to be part of it. To do so, the government starts evading individual accounts. Last month, nearly $50 million in crypto was seized. Will that be the future of the other countries to follow? I hope not.

Stablecoin is facing an existential crisis. Yes, DOJ has called Tether out and they will face bank fraud accusations. It is very serious because unlike Bitcoin runs on itself with blockchain, stablecoin runs on top of unknown assets that are under SEC regions. It may directly or indirectly affect cryptomarket into a fearful uncertainty environment. And the CEO of Tether warned it will plumb the cryptomarket if something goes wrong on issuance of Tethers.

Binance faces serious scrutiny from European regulators and they are likely to comply with paying more taxes which means higher fees for users to trade from their platform. Their profit diminishes and their advantage becomes less and less. Personally, I do not like their business model as they are as centralized as they can to operate. No advantage whatsoever of using their platform.

Amazon denied accepted Bitcoin has a payment method.


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

Thanks for reading and see you tomorrow!
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