BitBoy Crypto Morning TA
Good morning, everybody. It's September 27, 2021.
My name's Piano Matty B.
That's Scaramoochies.
This is your morning TA.
a brief glimpse into the crypto markets
where the sun's shining
where the wind's blowing
all the humble opinion of this piano
Zamboni, bring in the data.
The FOMO index has dropped to 26 from yesterday's 27.
And nosy Miss Nussbaum's social media market sentiment in a rent-controlled apartment in Queens
is at 61%.
Bitcoin dominance is at 42.4%.
24-hour volume is at $107.9 billion.
And the overall market cap is $1.94 trillion.
Give or take a hundred million.
Well, after our flash FUD dump on Friday,
Bitcoin stabilized back up to $42.6K-ish
and decided that he was just going to lay low all weekend long,
read those Kurt Vonnegut novels,
reorganize the garage again
till he got that text early Sunday morning from his old buddy from college,
Donovan Schmidt,
aka Lickety Schmidts.
And that text read, "Hey, bruh! I'm in town! I got my dad's black AmEx and his driver Donny,
and I'm right outside your door, baby!"
So Bitcoin reluctantly jumped out of bed and hopped into Lickety Schmidts' blacked out Escalade,
and what a night.
They went everywhere from the red light district down at $40.7K
all the way up to the oxygen bars and wick grass stations at $43.7K
till he called it a night and spent Sunday in bed telling himself
he's never going out with Lickety Schimdts again.
Alas, maybe it was Lickety Schmidts' dad's black AmEx that got us to $43.7K,
so I say, Lickety Schmidts?
He ain't so bad.
Every time there's some silly FUD selloff like Friday or Sunday morning,
I'm left scratching my head wondering who's selling.
And a lot of knee-jerk responses will be "Well, it's the retail trader getting FUD'ed out!"
And I mean, okay, I suppose there are some noobs that have dipped their toes in the market,
hear some fun and fire sell their position,
but I ask,
does the retail noob even know what FUD is?
Would they even understand why it is FUD?
It's like playing poker with a noob.
You can't bluff a noob.
They don't even know what bluffing is!
Or that there's such a thing as a bluff.
And then it hit me.
Nickleback!
The retail traders who are fire selling their position due to silly FUD packers are Nickelback fans.
I personally don't know any Nickelback super fans,
but that doesn't mean they don't exist,
now, does it?
Every time they have a concert, it's sold out right away.
Every time they release a CD, back when bands actually released CDs,
it sells like 15 million copies.
So they're out there,
and it's the humble opinion of this piano
that the retail traders who sell off their position due to silly FUD packers are Nickelback fans.
And that solves it.
Case closed.
Now, I don't think I've ever said "don't sell" or "buy now".
I mean, I'll always tell you when Entries Galore
and their sold out "I Told You So" world tour comes to town,
but I've never said don't sell
because I know that this community knows better.
We've all been in here long enough to know that silly FUD is just silly FUD,
and we're all firmly planted on our way to becoming emotionally void market sociopaths
who can watch their portfolio go down 30% and laugh
because we know where it's going.
The how long will it take part, well, she's still up in the air.
And that growing market sociopathy makes it harder and harder
for the FUD packers to shake out loose hands
because the loose hands are getting fewer and fewer every day.
Back over on the daily, we can see a real nice hammer candle form
that heave-ho'ed us back to moving average territories,
and we can see that we'll have a confluence of moving averages
to convert from resistance to support
up at $45.5K.
And this is my weekly dad eye,
the level I'm going to be watching all week.
And I'd like to see price action flip it into support earlier than later.
We're still covered in September's Ghostbusters' ectoplasm,
but as we approach Probert October,
that should dry up,
and we should see Gozer the Destroyer eat the Marshmallow Man's lunch
and send price action up.
And remember,
we're playing the same game as our psychopathic elected elites.
That's right. It's the long game.
So zoom out and have a fantastic day.
BitBoy Crypto Morning TA
Whoa!
Chachachaching!