BITCOIN rallies again to resistance (6680). Is a move through 7000 in our sights? Dow Jones 25,000 and set for more gains! And, metals comment.

in cryptocurrency •  7 years ago 

It is about noon here on the east coast of the USA, and welcome Steemian friends.

It is not a surprise that we again approach that 6700-6800 resistance. See the second chart below.
And the first chart compliments of Jim Wyckoff of Kitco does show a positive sign. That is, could we have seen a nice little head and shoulders bottom recently?

My answer to my own question "Is a move above 7000 in our sights?" Not so soon, I'm afraid. SENTIMENT is even more negative than Friday. We are at (DailyFX) 79 percent traders LONG. If we decline again toward support close to 6000 AND we get a nice pick up in 'fear' I might get positive here. So far this is a technical bounce in a downward trend. HOLD.

Bitcoin_0716.gif

There may be some silver lining in the KITCO chart above!

btc7-15.png

We are once again up to that "resistance" spot spoken above. (with poor sentiment readings)

The Dow Jones is at 25,022, flat on the day but with GOOD sentiment. This market is headed higher. And if you bought on my recent BUY at 24,100, stay with it until further notice.

Gold (of course) doing nothing! A touch of sarcasm? Yes,we are frustrated but not losing a bit of patience. I might, (be frustrated) if things don't really heat up in September! I have not a bit of doubt gold and silver see much higher prices and quite soon. Sentiment is getting very good. WE are seasonally where things (metals) bottom.

goldseas..jpeg

The seasonal chart is just an average of movement over about 30 years. It is worth noting. As is a dollar that should top soon.

USDX.GIF

The opinions here are mine. Please do your own 'due diligence'.

Have a great rest of your day, and thanks for your support! UPVOTE and RESTEEM always appreciated.

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we hope btc will be cross 10k mark

It will..my question is can this small move here be sustained? thanks..

As long as steem is not dropping too much, I am a happy man.

You can't look at the seasonality of the dollar and then look at the chart and be bullish. You just can't.

I see nothing short term positive for BTC. Metals getting close..dow? going higher for now...(your take?) always apprec. your opinion, as you know!

842C9BAC-BDCA-4B82-B293-7BC5ED26F8E2.jpegAverage Joe's and Hedgies are all in...up here :)

Thank you for your continued support of SteemSilverGold