Good morning my Steemian friends.
Today I'd like to pose a question to some followers here. Why have we not seen a move in some other cryptos in sympathy with the massive move in Bitcoin of late? See several charts below, one the latest on Steem the other, Ethereum.
We are aware that a lot of the BTC move has been news related and isn't that often attributed to all market moves..."news" (real or fake). Of course few understand or pay atention to SENTIMENT as we like to, but LOOK AT STEEM! It has quietly put on a similar 40 % move in the same timeframe: the very end of June. I like the chart!!
Ethereum and Ripple have done nothing whatever and I'm reading some negative issues currently affecting the trading of both. By the way, the sentiment on these two is very, very negative but I'm sure the sampling is small.
BITCOIN as mentioned yesterday (8200 currently) is up against a ton of resistance here. While it may trudge a bit higher short term it will consolidate. HOLD at present.
GOLD! please see the chart below, compliments of SENTIMENT-TRADER and KWN.
I'd like to see the "optimism index" a little more negative. Gold is rallying currently and it probably fails, comes down again (Rosen's 1140?) and the stage is set for a massive move upward to 1400 or more and FAST; see late 2015. I'm holding to that and it begins in Sept. I guess we'll find out soon enough.
I always welcome your commentary and it much respected I might add.....
Your support is appreciated as well.....thanks.
Thx for info yankee-stat!
I believe we are retracing the pattern from 2013. If so, we are aeeing the mini-bull in btc that will be in place for another week or two — and then, PAIN.... for another week(ish), and then sometime around the end of August the real Bull begins...
As far as the metals go — who tf knows? If JPM starts buying shorts again it will fall, if they don’t, they will begin their ascent.
Cheers, @thedamus!
And welcome! ALWAYS value your input!! Must say it's 'interesting'....and Cheers right back!
I will only say that I hope you are right. I have been following you for a few months and you never disappointed me.
thank you my friend..I'll do my best but I will say after the summer period, autumn is going to be quite interesting.
Seems like a classic non confirmation in the crypto market and should be a signal that it’s not in a major bull market yet.
likely you are correct..although chances are very good (I believe ) we've seen the low in BTC..your take? (apprec. your feedback!)
You are prob right. If btc was headed to new lows it should’ve stayed below the 6700 resistance. It spent a very short time below this resistance. Definitely not the type of price action typical of an extended bear market. Looking forward to your futures post. Thanks for sharing.
thanks my friend..and you as well..
Great article! I am worried that we will see major pullbacks this afternoon.
great to see you and thanks...(agree)..
What's the gold optimism index based on?
based on the COT reports...the commercial ('big banks" long or short vs. the small specs..(always on wrong side.) it is amazingly accurate....see Jason goepfert often found on KIngworldnews.com..he'll put up the stats about weekly...and thanks as always..
I think right now people are dumping altcoins and buying bitcoin but this wil not last long. It's not the first time this happened. I hope this bull run is genuine but I have my doubts.
makes sense....and thanks as always..
Thank you for your continued support of SteemSilverGold