Hey guys, back with another wrap of the latest market movements, blockchain industry and local news. Missed the wrap yesterday when the joys of living off the grid hit home - I ran out of NBN Satellite data and electricity near simultaneously. I was still around on the shaped connection at the other house, but no chance of news and charts at dial up speeds.
Here's the latest (massive) movements in ...
Crypto Markets
Bitcoin had a rough time over the weekend, but we got a truly whopping up-day yesterday and the corrective bottom seems to be in place. This could have something to do with the early signalling for Segwit2x (see news section below). The rally was right out of a key support zone which was essentially my "line in the sand": home of the 38.2 fib of the move up from $1, the swing high from mid May and a former trend resistance line. We are still trading in a bearish channel, but I maintain this is corrective (bull flag) and expect significant buying interest on any weakness:
Similar price action on Ether, with a nice bullish engulfing out of channel support. We've had quite a few false starts on this and still think waiting for a break of trend-line resistance is the safest option, but this reversal set up is looking pretty damn clean:
Steem also appears to have carved a higher low in key support, but once again we've had quite a few false-starts with these bullish engulfing candles. Either way, 0.00035 looks solid and still really like this pair going forward:
We are trading at 1.39 AUD this morning, down from $1.54 when I last wrapped Friday. Also down against the US Dollar: currently fetching $1.08, down from $1.16 Friday. Steem Dollars are still trading at a discount, currently 98c at Bittrex, so pick some up on the cheap while you still can!
@Gohba.handcraft's requested an SBD chart the other day - a little late mate, but here it is. I get my quotes and do my SBD trading at Bittrex, but their charts are real small and my charting platform only has Polo, so will have to go with that:
As you can see, SBD is both heavily offered and well supported, trading in a tight little range within a bearish channel. Considering you can always get 1 Dollar of Steem for an SBD, there is only so low it can go and for only so long - down side volatility should be put down to a lack of liquidity and ignored. I expect an eventual break higher, but there will also no doubt be a pick up in selling interest, whenever the pair rallies towards the channel top/0.00060. Buy low, sell high -> rinse -> repeat.
Crypto News
Seemingly endless woes for Ethereum ICOs as 7 million dollars worth of Ether stolen following a security breach at the CoinDash website. An intruder switched the legitimate ICO address for his own an got away with a ton of Ether before the ICO was shutdown. Investors who sent Ether before the shut down are being compensated appropriately, but if you missed the announcement and sent funds to the wrong address after the shutdown, CoinDash are saying tough luck.
Good news for Bitcoin bulls and anyone long crypto in general: 43% of the Bitcoin network have already signaled they are ready for Segwit2x. Miners weren't expected to start signalling til July 21, so this is a very good sign. Other big pools have advised they are planning to signal as well, but we still need to get to 80% before August 1 to avoid a chain split.
If you were trying to make money on the internet round turn the turn of the millennia, you probably came across paid search websites that paid you fractions of a cent for your search traffic. They were a complete waste of time, but a new blockchain startup from an ex-LG employee could be about to change all that, and give you back control of your advertising data at the same time. The BitClave search network is built on the Ethereum network and will charge advertisers/pay users in its own cryptocoin. Very interesting project IMO and I'm keen to test out the networks search capabilities.
Finally, there is a shortage of capable blockchain devs and demand is on the rise . If you're looking for a change of career, or deciding on a uni degree, this could well be the way to go.
Coindesk with all of those stories.
Aussie News
Australia's health care system has been ranked the second best in the world by a team of American researchers who have ranked their own health system the worst in the world. I imagine there's plenty of places that are worse than the US, but it's most definitely the worst in the developed world. I've shared this before, but take a look at the bill you get when bitten by a rattlesnake in the States:
(via @HaggertyCBS11 on Twitter)
I like the 14 day term ... Got to love that invisible hand, it's so damn efficient!
In other news, the government is proposing an all-in-one super department that absorbs all of the domestic security agencies. The opposition are calling the move a political stunt, rather than a necessary change, and some security experts have expressed concern. The proposed change would bring the Australian Border Force, Federal Police and ASIO all under the one department, similar to the UK's Home Office.
Finally, an Australian woman was shot dead by responding police officers in the US after she phoned 911 for help. This is a truly tragic story and my thoughts go out to her family and friends. We often hear about cases of overzealous police officers in the States, but this one hits unusually close to home. Fellow Team Australian @DrWom has been personally affected by this tragedy and wrote this short piece regarding the absurdity of gun laws in the US. I really struggle to write about this sort of thing, so I apologize if this comes off in any way callous ...
ABC News with those stories.
That's me for the day folks, back in the office now and will be back tomorrow around the same time.
As usual, 20% of the rewards from this post will be split with 
