Good morning CryptoPubbers and welcome back inside as we are pouring Correction Cider and cooking up some nice Bottom Wings in the dog days of summer.
The morning started red across the board and since then, Bitcoin has hovered around the $7600 mark, down a minimal 2% from yesterday. 7 coins have sprung up into the green modestly including EOS (recovering from a bad day yesterday) Ripple, Litecoin, ZED and NEO. ETC's little pump yesterday has cooled off and it is back down to $16, 3% down from this point yesterday. The 0X/Tron/Lumens/ELF/FUNfair Clown race of popular Alt Coins is being lead presently by Lumens which is up 3.5% as Elf and Tron are down .5% in the rear.
T&A today is brought to you by 
With my exchange FIAT in my fists, I will be watching the daily and 12-hour Bitcoin charts for the reversal in the trend on the Stochastic Relative Support Index (Stoch RSI row on the bottom of my chart.) Looking at the 24-hour chart, we can see that the price of Bitcoin paused its correction last night right at the intersection of the Median Bollinger Line and support line which, if it holds, will signal we are still bullish on the daily charts (staying above the median line). We are almost at the bottom of the STOCH which is generally where the largest drops happen so we are not out of the woods yet. The next couple days will be interesting to see where the bottom will be this time, whether some whales throw up some huge sales to spark a big knife below support, and if we drop to the bottom Bollinger line where it intersects with month-old support. As I wait and see, you can guess my limit buy is set just above $6500 to be safe.
Bonus T&A brought to you by 
There are a few Monero supporters at the CryptoPub so it is nice to check in on the 12-hour XMR chart to see how we are doing. We can see a very distinct consolidation/growth channel and a couple very interesting anomalies that have reminded me to keep aggressive buy and sell limit orders set. The daily chart suggests another little drop before correcting but the 12-hour chart begs to disagree with a distinct correction on the STOCH. Buy volume is increasing a little with plenty of room for growth on the STOCH and a little rally could put us closer to a MACD up cross. Conservatively, we should see a price increase to $135 in the short term where we would be bearish if it corrects back down there. If we have some good volume and get up through the median bollinger line, it will be interesting to watch and see whether $135, $155 or $165 will be the stopping point, or if we will be bull enough to blow through. Popcorn zone is that lonely green resistance line that started back in January.
Coins starting August off with a bang include:
- Odem (ODE) - Block chain powered Education and Certifications doing well again - https://odem.io/ https://www.tradingview.com/symbols/ODEBTC/
- Ethereum Classic (ETC) - Traders are buying ETC with ETH today - https://ethereumclassic.github.io/ https://www.tradingview.com/symbols/ETCETH/
- Gulden (NLG) - Can't see too much remarkable about another currency https://gulden.com/ https://bittrex.com/Market/Index?MarketName=BTC-NLG
Personal Trading Strategy today: Buy a little XLM, sell some Ripple loose change that is stinking up my purse, Hold onto BTC bound fiat a couple more days, Snap up a few sub-$16 ETC.
Source: CCN getting all dramatic again and needs a beer. https://www.ccn.com/crypto-bloodbath-bitcoin-drops-7-to-7500-as-crypto-market-loses-30-billion/
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