Good morning friends. See the chart below of the horribly oversold BTC. We are concerned and for STEEM, well, that may be another story. I'm asking you for your opinions! I always welcome them. I too have an emotional involvement. I'd love to make some money for the efforts. But in 40 years of following markets, many as a professional we must keep emotion out.
Sure, we'll get oversold bounce at 3400, but it will amount to little.
It is unbelievable to me that sentiment this A.M. is still 73-27 bulls-bears on the VERY reliable IG London client sentiment. I should have put more money where my mouth is. Those reading this blog regularly will see we have missed nothing on the DOW or BTC since writing in January. That's every tradeable rally as well....SENTIMENT, SENTIMENT, SENTIMENT..(and a simple chart). Steem is down 99 percent from the highs. Please ask some of our resident experts here (if you can find them). Are they buying.......if not maybe you should! But seriously I'll report when I see the readings 50-50..or close. Can BTC go to 1000....sure..but I never pick a number..Let the market and the Sentiment indicators show me.
As for the DOW-JONES.....we look for 20,000 sometime next year...any rallies will be bear market reaction just like you saw yesterday. New jobs numbers out today, below expectations. NO one sees recession on the horizon, except right here. No one sees rates lower..except here...and a lower dollar. Watch gold and silver closely.
Have a great day and do your own 'due diligence'.
I am on the verge of buying Steem. It is too tempting not to now. Obviously I will only spend what I could afford to lose.
Im thinking 15 cent steem and bitcoin 2500 btc, id be buying. Or cost average in over the next few months and you probably wont go wrong. Best of luck buddy.
I never (as you know) pick a number...risk reward says there is not a solid bottom until the majority or almost has "given up"...it could well be 2500...it could be 1000. so I watch the numbers...(sentiment) it it surely was not 4000...or 6000.or 10000..thanks..
Your blog is the place to be for your great analysis. Thanks for sharing Statman!
thank you TP...appreciated..
I hope it drops to 15 cents honestly. Then it would be a steal. Once SMT's are out, Steem is used to trade for them and therefore (in theory) increasing value. I will be spreading the cost of time to average it all out.
Very nice. It's got to bottom eventually, I just hope it's not at .001 cent! lol An actual possibility.
don't blame you a bit..(thanks)
Hi @yankee-statman
I haven't heard from you in a while so I figured out that I will check your profile. Just to discover that you didn't post anything in a long time :(
Hopefully you did not give up on Steemit?
Yours,
Piotr
We'll see...thanks...(appreciated).1.) not a lot to report that I haven't said in my last several posts...1.) called the market top almost to the day...the metals..much higher to come later '19. Bitcoin was 3400 last post...nothing new and sentiment still will not help it....We'll see going forward if I can get motivated to write again.....much appreciated.
Dear @yankee-statman
Thank you for your kind reply. Appreciate.
ps.
I was wondering if you would mind considering supporting my efforts in building crypto community here on Steemit while you're away?
Since HF20 took place myself together with few other active "Steemians" we decided to put extra effort into making our little community stronger. And build mostly on mutual engagement and support instead of financial rewards.
I already delegated over 3500 SP to a group of 80 steemians who struggled with low RC levels (resource credit). And the results has been great so far. One of my latest posts reached over 800 comments, which I found insane
Those results are only proving that our efforts are worth something. The only thing is that I can do only "that much" with my current resources.
Perhaps you could consider supporting our efforts and delegating part of your SP for period of time while you're not active on Steemit?Please let me know what do you think. I will appreciate every feedback, regardless of your decision.
Yours
Piotr
same here likely light small bounce/consolidation as before heading lower. btc/usd short hitting top resistance too.
I see a recession in Apr 2020, but by that time the Markets will be down by 30%.
absolutely....and you are one of the very, very astute on this board..thanks as always..
I continue to add to Steem given the great community and experience I have had here. However, I am looking to potentially add to some BTC as it gets too enticing as well!
Posted using Partiko iOS
I tend to agree...but it is interesting that the complacency is at this level...(little fear)..thus no substantial rally in sight..yet. (bottom)
I'm buying steem between 0.25 and 0.3 usd.
Posted using Partiko Android
and it makes sense..thanks..
I am watching the comex silver which will close the week in about two hours (settlement price) which if it holds above $14.54 we shall have according to Rosen the first confirmation that silver has resumed its "bull market". Could get very exciting - for me its like watching the countdown for a rocket launch. :)
spot on..Rosen wrote the other day...silver bottomed at the (I believe) 13.60 ish level...(thanks).
Im waiting for the area of 3000 USD (BTC) to take advantage of the possible rebound ;-)
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