With all the positive news on Bitcoin and Blockchain, the only way this price can still be dipping is Whale Manipulation.

As you can see above we have broken down past the previous support and now are falling back to our 50 day moving average. If the 50 day falls the next previous resistance level that could potential become support is 6770. If we break below that we could be returning to previous lows or lower... For now we seem to be holding around 7k. Remember our move from $6500 to $8500 was fast and went way over sold, this could just be the market correcting and establishing a new bottom for the next tick up.

News:

• "CLEVELAND, OH — August 4, 2018 — Equity Trust Company announced today the launch of their digital asset platform. Through myEQUITY, Equity’s account management system, clients can invest in digital currencies within an IRA". This means that this company will now start offering their clients IRA's in Crypto. If their clients buy in they will be steady buys into Crypto every payday, if more investing companies follow suit it will help make Crypto less volatile. Link below:
  https://nulltx.com/equity-trust-launches-digital-asset-platform-for-cryptocurrency-ira-investors/
• The next article that shows strength for Bitcoin is "Crypto Mining Firm Argo Blockchain Listed on London Stock Exchange, Raises $32 Million" If the mere listing on London's Stock Exchange can raise $32 million for a mining farm, how could Bitcoin be dead? Think about it for a second, if Bitcoin is dead, why is there 32 million dollars being invested into a mining farm that as no other use then to the Bitcoin network. ASIC mining rigs have no other purpose then to mine bitcoin, literally. For those of you who do not know what an ASIC is "An Application-Specific Integrated Circuit (ASIC) /ˈeɪsɪk/, is an integrated circuit (IC) customized for a particular use, rather than intended for general-purpose use. For example, a chip designed to run in a digital voice recorder or a high-efficiency Bitcoin miner is an ASIC.". So if you are buying yet another warehouse full of these miners, you can safely say that A- the first warehouse was profitable and B- you are committed to the Bitcoin network, because if Bitcoin goes under you now own a warehouse full of Low Efficiency heaters, or fancy paper weights.
  https://cointelegraph.com/news/crypto-mining-firm-argo-blockchain-listed-on-london-stock-exchange-raises-32-million
• The last article I want to talk about is on the same line of reasoning. "Power Block Coin plans to harness 135-megawatts of power on its campus. As per the proposal to the county, the company will do this by building a substation at Montana Connections, which will be built in two phases over 24 months. Out of the $251 million total, $8 to $10 million will be spent on this new electric infrastructure. The company also plans to spend $60 million on between 70 to 200 separate mining units, " These mining farms are getting so big that they have to build substations to support their mining operations, and they are so profitably that spending $251 million dollars to expand makes sense. If Bitcoin is dead, why are mining farms building building substations and investing millions into the Bitcoin network? Remember as long as miners continue to mine bitcoins then Bitcoin is not going anywhere. (FYI Bitcoin capitalized means Bitcoin the network, and bitcoin in lower case is the tokens that you trade). That being said, what do you think the odds of these mining companies who invest million upon millions of dollars will decide to suddenly stop mining. They say that if Bitcoin falls below $5,000 that it will not be profitable to the miners and they will stop mining and Bitcoin will fail, but I will let you in on a secrete, that is false. If some miners decide to stop, others will reap the benefits of them stopping, and Bitcoin is designed to get easier or harder to mind based on the "Hash Rate" that is, the computational power of all of the computers being used to mine. So if mining farm A, B, and C shut down causing mining difficulty to increase, in 2 weeks the network will adjust the difficulty (because its on a 2 week check and balance regulator), and the network will continue on without A, B and C. In the mean time D, E, and F will be earning more block rewards then they would have when the other competition was involved.
  https://cointelegraph.com/news/crypto-mining-firm-argo-blockchain-listed-on-london-stock-exchange-raises-32-million

Do not let the whales shake you out before we moon, HODL, delete your ticker and be strong.

I am not a financial advisor this is not financial advice, invest at your own risk. I am not a psychic ether, I just really believe in this Blockchain Technology and Bitcoin so even when the price declines I believe that this technology is as big of a revolution as the internet, internet 3.0. The internet was not designed with security in mind, which is why there are so many breaches and hacking. The Blockchain was designed for security, it is designed to be Un-Crackable! Think about it, in a world that is moving to self driving cars and automated houses how could anything be trusted to the internet? In a world that is moving in this direction, we need a solution to make this happen, Blockchain is this solution. If you read this and really ponder all of this, perhaps you will arrive at the same conclusion that I have. Again I am not a financial advisor nor am I a psychic but I believe this is the future.

By Frank Aiello
8/4/2018