BITCOIN'S "little bounce" goes nowhere. Two stunning charts: the dollar to collapse, gold to soar? Statman's commentary.

Good morning my Steemian friends.

Without complicated wave counts and constantly conflicted analysis, (there's plenty of it on these boards )we've have been to the point missing nothing since the first market report in January. SENTIMENT my friends and knowing how to read it in almost 40 years in the markets with the most simple support/resistance chart really is all one needs. The trick is "keep it simple" see the forest from the trees and NOT be a trend follower. We are going to attempt again to call a bottom. Yes, we plan to post STATMAN says BUY BTC! Not here, and I am not going to project a price level. We don't hedge either.

We called sell in print, 15,000. Buy under 7000 and sell 9750 saying that rally wouldn't see 10,000. Buy 7150 for a move to 7700 (almost precisely) and even this week a "little bounce"!! And that was it (about 6850). Shockingly SENTIMENT remains bearish with still 80 percent of traders bullish! Wow!. After this horrendous performance by the cryptos I would expect more like 60-40. Thus we are going lower and there is no point whatever to forecast a price level. Let's call it when we see it, then jump on it.

Now to the 2003 analog comparison to current dollar action. See the chart below, please.

Forces to drive the dollar lower are many. None however are greater than the trade war unfolding with China. You'll see a race to the bottom. Gold will soon soar; very soon. See chart below, please.

Even the dollar season is going to give a little wind at our back this year, in my opinion.

WE are forming a beautiful bottom in the summer doldrums period. I have no problem forecasting 1450 gold and 21.00 silver this year.

Have a great Wednesday and I always welcome comments and remember, the opinions above are mine. Please do your own due diligence.

UPVOTE and RESTEEM always appreciated.