It is Saturday late afternoon here on the west coast of Florida.
It is not with delight that I write what I'm seeing. And certainly I do not want to say "I told you so", but I guess I did.
We said sell and stay out at 15,000 in January. What a classic parabolic Bubble with about 90 percent speculators LONG. This is a sell signal every time. And, we called every 1000 point rally on the nose....for traders only!
Than we saw very negative readings on all rally's including those to 10,000, 8000 and even the recent bounce to 6600!! IN fact just two weeks ago we saw and WROTE 84-16 Bulls to bear. You'd think I might know something as a professional trader with 40 years of experience! If I helped one of you I'm pleased.
We said after the likely drop below 6000 we hope 4000 would hold but we MUST MONITOR SENTIMENT. Things are getting interesting now with 71-29! This is London's IG client sentiment.
I read some of the pages here of the "authorities" whom have put large amounts of their life savings in cryptos with pie in the sky ideas and virtually no knowledge of market history and "bubbles". And These people should be ashamed that they have convinced so many of you to march to the slaughter. I saw the same, years ago, in the "dot.com" bubble.
Most cryptos are going to be totally worthless. Bitcoin and Ethereum are likely to survive and money will be made to the upside...lots of it.
A decent buying opportunity is close at hand. If you take a shot here, use fairly tight stops. Things are starting to look like capitulation. I would NOT be a seller....
Have a fine rest of your weekend, and remember....the opinions above are mine. Do your own due diligence.
Hello, my friend. What are your thoughts about steem?
I am very concerned..but not much downside..We'll see how it bounces when bitcoindoes get a good move up..which it will...thanks..by the way..please see kingworldnews.com and listen to the latest stephen Leeb. Most interesting..
Amazing price action! Looking to get into some at these prices despite the potential of more pain to come...
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as you can tell, my thoughts as well..but there is more pain I believe.
My thoughts are also the same this could well on continue downward a little more.
What do you think about BAKKT?
Do you think that the institutional money is used to buy in the OTC market, to sell in the market and to buy back in OTC, with the sole objective of throwing the price until the launch in January?
I think that this strategy to buy at low prices may be coming out perfect, can I know your opinion?
I have long thought that there is serious manipulation in this market. Well, the same certainly in the metals. And for someone to buy at these levels with "risk on" money may be very smart. BAKKT is very, very interesting and I do believe has a big future..thanks..
You need to promote these post to the front page of steemit. I can show you how on a skype meeting. Well done, as always.
I second that too. I find your posts on the subject matter very insightful and I do keep a close eye out for them.
Thank you so much!
I'm game!..thnx.
Another solid analysis! Thanks Statman!
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thank you!
It's a free fall. Spot on again. Resteemed.
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thanks!