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RE: STATMAN MIDWEEK COMMENTARY on BITCOIN (6540), The DOW 25,050, GOLD 1177 and a must see chart..."DO NOT DESPAIR!"
I enjoy your reports but I'm not sure how accurate your sentiment gauge is.
Right now shorts for BTC are closing in on an all time high (https://www.tradingview.com/symbols/BTCUSDSHORTS/) and fear is at very high levels as well (https://alternative.me/crypto/fear-and-greed-index/)
I think we're looking at a short squeeze soon, followed by a slow descent back to mid to upper 5k's.
Love seeing your thoughts, thanks for posting.
thank you...appreciated!.. that move from 5950 to 6550 was perhaps the "short squeeze"..Wehad lots more "pessimism" in late June..but I agree likely to visit mid 5's.
I would tend to agree if I saw the shorts depleted, but they're still on the way up and haven't dropped the way they would in a squeeze. Whatever the high of that squeeze is, I'm guessing 6800-7200 is likely where we start making our way down to the mid 5s.
Time will tell!
that is true..and we are at an important juncture..and that 6800 -7200 could be.!