Good Saturday morning my Steemian friends. I did not expect to write this BITCOIN UPDATE this morning.
But I think you'll find it interesting.
Let's refer to the chart above. You can easily see the strong resistance at 6500. And the very recent high is 6471! We stand at 6376 as I write.
During the past week I began stating we are less and less negative (around) 6100. WHY? A marked improvement in SENTIMENT as applied to how the market "acts". It is not only market psychology but understanding how to apply it.
Finally yesterday, 5850 (approx.) WE said you can now do some "light buying" and keep some "powder dry".
Maybe I'm wrong! Should I have given the all clear signal? Time will tell. We now have the least number of traders "LONG" since June 15th. Oh well, no surprise but is it bullish? Not quite. But the GOOD NEWS? Speculators do not seem to be buying this nice 600 point move.
IF you are long term bullish and I mean well beyond a year, as you should be, you should be accumulating now on weakness. This is a tough, tough call. Some are much easier! I have stated repeatedly I see no evidence to "wait until 2000"..or 4000." And sure it could happen! The odds do not at all favor it now, BUT WE ARE NOT OUT OF THE WOODS ENTIRELY! Just look at the crypto boards here for weeks predicting 2000 etc. One posts about 10 times daily. The same member who kept you bullish at 19,000!
The best contrary indicator, CNN, had BITCOIN headlines yesterday....what a horrid 2nd quarter, they broadcasted.(true..lol)
I intend to write tomorrow on some INCREDIBLY BULLISH news just out on GOLD and SILVER. Some of the best news in about 10 years. They are indicators almost always correct.
I want to commend two followers here, 
Thank you again! And, as always....the opinions here are mine...please do your own 'due diligence'.