A STATMAN SUNDAY SPECIAL....ALERT! POSITIVES APPEAR IN BITCOIN (6723) "SENTIMENT" and it's significant. GOLD and SILVER GETTING ready for massive move a bit later this year and beyond.
I hope all my friends are enjoying the weekend. I had not planned to do this one, and in fact this summer of "doldrums" has gotten me to 2-3 posts per week! I figured let's get this one up now.
Bitcoin is impressing me. And if you've been following we are just not as negative as many over the short term. Sure I've said "nibble" at the lower 6,000 level or just hold. If you bought at 5850 in latte June you'd have sold a month later at 8000 (or so)...my recommendations. SENTIMENT has been an issue, not the chart....see below.
Let's look at the chart from Thursday. We are now 300 points higher with IMPROVED SENTIMENT! We have 10 percent more bears in a market acting nicely. Do we see a little "wall of worry". I do believe so. We are true contrarians. We sell when 90 percent of traders are bullish. You know the routine.
When we last visited 6200 recently we had 10 percent fewer bulls. If you've studied this stuff aa long as I have this is significant. Few understand the principal.
Bottom line? I maintain the chances of see 5000 (let alone lower) are now slim. Now that we are up near resistance can we get above 7000 and stay there? That is going to be a struggle here. We may need to back and fill some more..(sideways). But I do believe dips can be bought. See gold below. I am getting a feeling that when gold makes it's big, big move (and silver) BTC joins the party.
.jpg)
The ALERT? We are now at the most bullish sentiment in well over twenty years. It can be now termed "superbullish". Commercials bullion Banks are about to unleash a historic short squeeze and the specs will get murderred. they have as is usual been shorting bigtime in numbers indicative of a bottom...."sound familiar?" Again, you know the routine.
Did we see the bottom (1160) mid August? Will we go to 1240 then pullback to 1140 or a bit lower in November (the great Ron Rosen's call) I really don't know! You are in the BUY ZONE.
Wouldn't it be great if the dollar followed its seasonal trend. Of course that's no certainty. But, the wind looks to be at our back.
Haver a fine rest of you weekend if you are in the continental USA! And, a fine week ahead.
Resteemed my man! I am on board with the dollar crash 100%. I am heavily into EEM right now. I agree with you on bitcoin, saw where an "analyst" revised his price target from 50k to 3k for 2018 LMAO
And thank you..your opinion here is greatly appreciated and respected!
Interesting times ahead for these markets. Trends will soon be broken in my opinion. Great hearing you the last couple of days!
thank you!!! always apprec. your commenting!
My lambos are tingling!
and that's good! (apprec. you stopping by.)
Excellent analysis, as always. We will have more sideways movements along September for bitcoin, I think.
always appreciated.
Looks like you are not alone. There are others who think that we are preparing for a move up. Lets see how big this move is going to be. 😈
thanks! (and, as long as we are in the extreme minority.)
Big things are going to start happening and I am sure some are going to start losing a lot of money in the stocks. Thanks for the updates!
Thank you for your continued support of SteemSilverGold
I don't think we will see 5000 Bitcoin but I think a final drop to 5500 is very possible especially if we see a September market crash. Same with Gold. Anyway doesn't matter I think both are good buys for anyone getting in for the first time and wanting to hold long.