BITCOIN RALLIES ON 'BLACKROCK STORY'. 6775 and right at resistance, STATMAN COMMENTS! And, is the dollar soon to decline? See the chart and the implications for the metals.

Good morning my Steemian friends.

By now many of you have seen news on what likely caused the 5 % move suddenly in BITCOIN. As commented yesterday, with sentiment quite poor, BTC rallied despite traders heavily "long". We were a bit surprised, frankly. Oh well, news. The world's largest asset manager Blackrock is "looking into" Bitcoin futures and Steve Cohen billionaire hedgefund manager recently invested in the cryptocurrency investment fund Autonomous Partners.

See the charts below. The second will show we are right up against resistance at about 6800, currently trading at 6775. Unless there is more substantial "news" lets just say HOLD! We likely pull back. But, as we wrote one month ago at what looks like a smart call at 5850...WE ARE in the BUY ZONE, I remain not as bearish as many. But I can not say with confidence we won't revisit the lower channel. With sentiment negative, just too many (78%) long, I couldn't commit new money here quite yet. But, see the almost one year chart! There is a lot (to my eyes) to like. Stay tuned!

Let's look at this great chart of the US Dollar, below.

The dollar for a variety of reason is headed lower. Much lower. Trump can not win a trade war without a weaker dollar. This is going to be bullish for the metals and I do believe the cryptos.

I do believe the seasonal is working well for gold (and silver) (below). We are getting close in time. Let's see if the 1240 level gold holds. A couple of the very best timers think it doesn't hold but Sept. still brings a spectacular move upwards in gold and silver. I'll say this: The 'set-up' is one of the best I've seen in a long time, and sentiment is getting very, very good. BUY!

Have a great Tuesday and thank you for your support!! UPVOTE, RESTEEM, FOLLOW.