Massive Bitcoin MOMENTUM (Crypto & Altcoins Ultra Bullish)
Bonuses click, the link in the description to get set up on buybit or femex, and get an insane signup bonus for being part of the bit squad. Leverage trade responsibly. But do it the right way on femax or buy bit bonus details in the links below Music? Good morning, everybody its october 6 2021. My name is piano maddie b, that is scaramuccis, and this is your morning ta a brief glimpse into the crypto markets, where the sun shining, where the winds blowing all the humble opinion of this piano Music zamboni, bringing the data. The fomo index has climbed to 68 from yesterdays 59. bitcoin dominance is at 44.1 percent 24 hour volume is at 121 billion, and the overall market cap is 2.19 trillion. Music give or take a hundred million over. On the four hour chart. We see price actions following our plan. We discussed yesterday to the letter so far with a pump up and over 51k peaking out at 51.9. Then coming back for a retest of the 50. Music. Now he said we may see a dip under 50. and that would be a classic over compensation on bitcoins part, but we know that bitcoin is a melodramatic overcompensatrix, if its anything so dont be surprised if it does be disappointed, but not surprised, it may over compensate Itself, down to about 49 5 ish before pulling up its big boy or girl pants, i suppose, and returning back up this 51 level is not only the goldeness of golden ratios, but its the killing floor for whale sell offs where they systematically take profit like clockwork, Because they know its the beginning of premature fumotulation or early onset fear of missing out Music, where the excitement reaches new retail traders and they buy into the frenzy now its not the end of the world.
If we see a dump here, because it is such a huge killing floor for whales, but we need to have a fast rebound in order to maintain market momentum and at 51.8, that is what one can call a lower high from our last high lets. Take a look at that over on the daily. Why not now we can see over here? Almost a month ago, we had this high of 52.3 and this massive dump in subsequent doldrums in the weeds for all of september, and we have made a lower low slightly, but a lower low is a lower, lower and theres no getting around it. We see this retracement comes with low volume as well, which leads me to believe its the handiwork of a handful of whales, supposedly the accumulative market sentiment. However, this level is also what i call the husbands. Music promise were after a boat of premature femultulation over at this peak. A lot of retail traders had to promise their significant others that when the market comes back to 51ish, theyll sell make their money back and break even and put that money right back into something. More speculative and risky, like the prospect of actually making their significant others happy by listening to them, which has an upside percentage of 28 percent. Oh my trading point dexters have corrected me. They say the upside percentage of making your significant other happy by listening to them is actually six percent. They also added that, if you believe that things or people make you unhappy or happy, you are wrong on both, as you alone have have always and always will carry the keys to unlock your happiness or unhappiness its a choice, not a reaction.
Well, thanks guys, i appreciate your input today now scram. What id like to see pan out today is a dump, and you know what im going to stop using that word, because its just not accurate its a flushing out of weak hands, if i may be so bold lets, call it a flush. Yes, a flush id like to see a flush down to 49 8ish and i dont want to close the candle lower than that at risk of creating a bearish engulfing candle which would have high probabilities of continuing lower, which i just wouldnt like to see this week. I just dont want to see it Music, my friends once we get back up and over 51, which is what this healthy pullback should do. In a poific, world, 51 becomes the whales new killing floor, buy zone because, in an ironic twist of financial contrarianistic logic, the whales respond to market support and resistance. In effect, when they sell into buying pressure, they realize that resistance has become support and its time for them to accumulate rather than sell, which begs the question: if huge moves are made by huge whales, responding to market support and resistance, who is actually controlling the whales? Good question and thanks for asking finishing up on the weekly, we see a slight uptick in the macd, nothing to write home about, but it helps to diffuse this negative divergence.