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BitBoy Crypto Morning TA
Good morning, everybody. It's November 18, 2021.
My name's Piano Matty B.
That is Scaramoochies.
And 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 is up to 54 from yesterday's 52.
Bitcoin dominance is at 43.3%.
24-hour volume is at $125 billion.
And the overall market cap is $2.58 trillion.
Give or take a hundred million.
Day 3 of the range.
Yesterday, we talked about bulls, the bulls, the-- bopping in between $58K-ish and 62K.
And we've done just that.
We'll likely test the bottom level of support today.
Will she hold?
Who knows?
Who cares?
It's just a range.
It's like a guitar solo in a live concert.
You remember live concerts, don't you?
You know it's coming and you know it's going to be way too long,
but you let the guitarist rip his licks.
Then we'll return to the melody and the narrative of the song.
It has to play out.
That's just how these things work.
Looking at the 4-hour chart,
she's not pretty.
It's like watching a post-fight interview with the loser
and listening to him describe what went wrong.
Back in September, we saw a double bear flag with a small fakeout in the middle play out.
Here are the two bear flags.
And there's the small fakeout.
Fractalaneously speaking, we just came out of a bear flag,
a small fakeout,
and now we are in the second one.
When September's double bear sandwich with a fakeout pickle side played out,
price action saw a 60% run-up
from $40K to $66K.
"But, Piano Matty B,
what does that mean for our current double bear sandwich with a fakeout pickle on the side?"
Well, good question.
Thanks for asking.
Fractalaneously speaking,
if we replicated that move of 60%,
we would go from $59K, where we are right now,
to $98K.
The RSI even looks the same.
It just took longer at September because, well, September was a crummy month.
What took roughly 30 days in September has all happened in about a week and a half,
to put it into perspective.
Back over on the daily, we basically moved to the Adirondacks
and are now working at the Yuk Yuk's,
where Rodney Dangerfield is still working his farewell tour.
The last time we took a vacay here was, that's right, September,
so I'd like to see price action bounce off Rodney, reverse up,
but now that's what I'd like to see.
We could also see a dip a little lower before the reversal.
Our range bottom is at $58K.
And that's a bad mood wick away.
That's probably all it will be.
You know, one of those bad mood wicks that we see once a week now.
It's all kind of hilarious to me because it's all so tragically early in the big scheme of things.
As much gains and adoption we've witnessed in the past year,
it pales in comparison to what's coming.
It's all heartbreakingly laughable that we collectively bunch our panties
when these small corrections occur
because ultimately, they are forgettable blips on a timeline
we probably won't even reference in a couple of years.
As the government and the tech giants try to front run this revolution
that you are at the forefront of,
as their emotional SOPA, social sedatives and economic distortions,
slowly turned people's 401(k)s into pumpkins,
we are witnessing that engineered lullaby slowly dulling their logic
as they collectively insert their heads into the sand hoping for the best.
Well, my friends, the best is not what they want for you.
So stay sharp.
And remember,
we're playing the same game as our psychopathic elected elite.
That's right. It's the long game.
So zoom out and have a fantastic day.
F-sharp major 7
BitBoy Crypto Morning TA
Whoa!
Chachachaching!