Good afternoon my friends. It is about 1 p.m. Eastern Time, USA. Let's take a look at BTC!
The good sign with BTC is it holds 6500 with no decline in SENTIMENT. We gauge sentiment here to market performance. You want pessimism on serious declines, etc. And, the reverse on rallies. Want to make money, you must be a contrarian. But learning to read "subtleties" is something else.
Am I excited at 79 percent bulls? NO. But on the rally from 6000 to 6500 we actually have slightly more bears on board!
1.) I am not looking at a serious decline here. 2.) Any rally further will be well contained. 3) A given; we are not staying in this tight range forever.
We are likely to back and fill for a while and if I see (hopefully) continued (slowly) a bit more pessimism the bias is to the upside. I am long term bullish. Just remember our mission here is not to miss the major moves. See the chart above? We've called every 1000 plus point move here since Jan.'s SELL.
The Dow: nothing's changed. Today we consolidate and we trudge higher to likely new highs this year..But be very very wary longer term. SENTIMENT is very positive (short term). But World events including a DEBT crisis to come that may make '08 look like "a walk in the park"
WHAT IS TAKING PLACE IN TURKEY WILL NOT STAY IN TURKEY. That is a fact. Keep an eye on Italy and even Germany.
USA's debt is gone totally out of control and China doesn't like it. They like gold and will insist before long on the yellow metal becoming most significant as reserve currency. How important is the fact that China Downgraded our debt to BBB plus: junk bond status. Russia meanwhile has unloaded loads of our debt only to buy gold. JPM now it is "assumed has 600,000,000 oz's of silver, albeit "only" 150,000,000 can be verified.
The chart above says it all. I could put up a few more, but pointless. No,I did not feel we would go this low over the summer!
But would I argue with Ron Rosen (the best)? He's called for 1140 or even a touch lower by November before the "mother of all bull moves".
Whose calling for 6000 (minimum gold) over the next few years? Przem. Radomski and you can see his extensive work Thurs. on Goldseek. com. I would not mention him only in that to me he has PROVEN to be very, very accurate. He called the top years back, called the 1360 (recent) level as a sell short term and to go below 1200 before a massive up move.
I've learned who to place trust in....Avi Gilburt, Arch Crawford, Charles Nenner, Gerald Celente, Radomski, Dr. Stephen Leeb. Remember our own Cryptocurrency page here? 85% or more of our "experts" were bulls at 15,000 BTC and up! Remember our BUY at 5850 late June? It seemed almost all of them were looking for 4000 and under. I don't listen to many. They best have stellar long term records and pretty much match my own indicators.
Here is wishing you all a great weekend. Interesting times lie ahead. And thank you for your support!
Wow! 6000 USD gold would be a gift. What would SPX be?
much, much lower than today..I believe he is figuring the Dow 10,000.
@statman, as per your prediction bullish trend may start very soon . . . .
Coin Price (USD) 📈 24h 📈 7d
BTC Bitcoin 6531.361$ 0.67% 6.29%
EOS EOS 5.296$ 9.24% 3.12%
ETC Ethereum Classic 13.828$ 0.95% 1.39%
ETH Ethereum 309.645$ 3.06% -3.58%
XRP XRP 0.344$ 13.15% 13.69%
Thanks again for another stellar update!
And I appreciate your support..I'll have one out probably Monday on with info the most bullish on metals since about 1998 (easily)..and even with this little pullback in BTC subtle positive sign..
The question regarding official DOW crash, Gold and Crypto take off is when? Certainly it is very near. I don't see more than a year or two. Honestly I thought it would have happened by now. I have no patience! Lets get it over with already!
I hear you...dow crash..not so soon..but a signif. top Nov...and that's when gold takes off. Your patience will be rewarded..
Thank you for your continued support of SteemSilverGold
As the Chineses say: Beware of interesting times...
good point.
I hope you are right, I would be happy to see metals make their move before I die... but I am OK with passing it down a generation too. I am NOT selling at these prices, ever, I am buying.
exactly. your patience is going to be rewarded.
I did not think Metals would get pressed this low either, however...The dollar has killed the globe and you are about to see EEM and Metals rip back up...Everyone is whining about gold and it is down 10%...compared to crypto and others this year down 70%+ !!!
good to see you...(and your word..) yes we are on the same page 90%..the sentiment ingold is getting right where we want it...of course there is a catalyst coming.....BTC is "interesting here" and not the easiest call..your take? (and thanks..)