Bitcoin 6495 attempts (AGAIN) to mount a rally off support. Can it amount to 'anything'? And the metals! A major short squeeze in the making, as well as our DOW-JONES commentary.
cryptocurrency·@yankee-statman·
0.000 HBDBitcoin 6495 attempts (AGAIN) to mount a rally off support. Can it amount to 'anything'? And the metals! A major short squeeze in the making, as well as our DOW-JONES commentary.
Good morning my friends. It's been about a week since my last 'post'. Nothing unexpected has happened.  We have spoken for many weeks about the coming major decline in the US dollar. Tom Fitzpatrick of Citi-bank, a highly regarded analyst brings us these two charts today: the dollar and the Euro.  We have spoken and put up charts of the super bullish COT positions. Commercials are net long, speculators are net short. We are going much higher. I felt it begins in September. Are we now on the way? I still fully expect 1400 gold not far out but maybe now early 2019. Silver? 20-21. Then we go substantially higher for the next several years. And now to Bitcoin. Are we getting tired of this action? It could be worse!  See the chart. And BTC could not punch through the 7000 area recently. We suggested some problems there. And we expected good support near 6000. (The upper and lower Bollinger Bands). Our problem remains SENTIMENT. the last time we visited close to 6000 we had a nice improvement in sentiment. Bears jumped aboard and we saw an increase in shorts, but even then 26%! At present we are at 21 percent and somewhat alarming. I don't expect this 'bounce' to materialized. Does that mean we break down to the 5,000's. WE may well have to. There is a worth reading article recently on www.321gold. It is from Sept. 10th by Wold Street. Find and and read it. While I feel higher prices lie ahead, it does not happen with the degree of bulls out there. Frankly it is a bit surprising. I wish I was as confident in the crypto market. While I've since January called the moves accurately I feel it is the long term I truly wish I had a better handle on. And I welcome your comments particularly on the cryptos. The Dow Jones is back above 26,000 at 26,140. Again, SENTIMENT is bullish. It takes nothing for fear to set in this market. I just wish BTC did the same. It has glimpses and I call them and the market resonds!! It just does not hold. The Dow will go to new highs before it truly rolls over later this year or '19 without a doubt. Thanks for your support and your comments. I truly welcome them. Where do you think BTC goes long term? How about Steem?
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