BIG Bitcoin Momentum Wave (Crypto FOMO Is Rising)
My name is piano maddie b, that is scaramooch ease, and this is your morning ta a brief glimpse into the crypto markets, where the suns shining, where the winds blowing all the humble opinion of his piano zamboni, bringing the data. The fomo index has creeped up one to 46 from yesterdays 45. and noisy, missed news bomb. Social media market sentiment and a rent control department in queens is at 73, which means every time people talk about bitcoin, it has a 73 positivity rate. Music bitcoin dominance has inched up to 41.4 percent 24 hour, volume has dropped to 134.8 billion, and the overall market cap is 2.09 trillion give or take 100 million over on the daily were still clinging to the 200 moving average for support, both financially and morally. As price action regains its composure after this weeks, flush flash dump its been seeking therapy in the arms of the accumulatrix. My dad eye is watching the 50 moving average creep up, but the 50 is the rodney dangerfield of moving averages, no respect, and no one really talks about it till they absolutely cant avoid it, and it usually stays well enough alone from price action. Its like the buddy with the truck when you need to move or haul a load to the dump. You give him a call when you dont, you basically never see him over. On the four hour 20 moving averages crossed down over the 20. Looking to win the love of price action once again, we know bitcoin has a weakness for the 20 and 10s to get caught up and its on again off again toxic relationship.
Over the past 24 hours, weve built our floor of support around our window of 45.5 and im hoping this is the jump off marker for this weekends pump. We can see how like a dirty shirt, the 20 is doing its best. Can i have this dance in our gavat triangle? Hopefully, the dance floor gets too crowded with the 20s two left feet and price action skedadds to the upside. My dad i likes the macd crossing right there and simultaneously is disappointed with the low ticket sales, but a life of quiet reserve. Disappointment is part of the dad gig and, alas, the information on the four hour chart is like house league hockey where everyone gets a participation ribbon and ultimately taken with a grain of speculative salt on the daily and, in my reflective cold hand of reality moments. I have to confront the notion of this new lower low that weve encountered and what that potentially means for our current trend. I ask myself: are we rounding a top and before we all lose it, i dont mean the top. I dont mean the bull runt off. I mean this current trend top. Are we going to pull back up to 50k only to form the dreaded head and shoulders pattern and then wick the last candlestick down to the 23 fib level before this bull run plays out? I mean a lot of people would argue that we simply dont have enough time to see this scenario play out, and to that i would have to throw up one of my favorite dad quotes, and that is the market can stay irrational longer than you can stay.
Solvent and that is simply a device for transferring money from the impatient to the patient. Now these are just thoughts i have when im by myself late at night, watching reruns of barney miller and night court. This time, restraint we put on the bull run can work as a double edged confirmation by a sword when were running out of time. We look for hail mary pumps to catch up and keep us in time. As far as we even understand or, dare i say, speculate its efficiency and were making too good a time, we start dreading pullbacks in order to reign us back in now. Of course, as a dad, i am a proponent for data and information, and although i will never read a map to save my life Music, i do adhere to historical events and trends as far as its influence, both real and perceived to where the market is going And now perhaps ill take a page from and quote the greatest time keeper of all led zeppelins john bonham. When asked about how he constructs his solo in moby dick every night, he said, and i quote with zeppelin – i try to play something different every night. Sometimes i play a short one. Sometimes i play a long one i like to keep the audience guessing because its the not knowing in the spontaneity that keeps it interesting. The audience knows where its going, they just dont, know how long its going to take to get there so remember were playing the same game as our psychopathic elected lead, Music, thats right its the long game so zoom out and have a fantastic day and its friday.