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Bitcoin Rising on a GOLDEN Cross (The FOMO is real) - YouTube
Channel: BitBoy Crypto
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good morning everybody it's august 24th
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2021
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my name is piano maddie b
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that's scaramucci
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and this is your morning tia
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a brief glimpse into the crypto markets
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where the sun shining where the winds
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blowing all the humble opinion
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of this piano
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zamboni
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bringing the data
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the fear and greed index remains at 79.
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now the more i think about it the more
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it occurs to me that this indicator
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isn't named right
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it shouldn't be called the fear and
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greed index because it doesn't properly
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tell you what's going on
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one might say piano maddie b
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when the meter is low and in the greed
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does that mean everybody is greedy and
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wants to get in
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well no that actually means they're not
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sure and one might say they're a little
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scared
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[Music]
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so then piano maddie b does a high fear
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level i mean people are scared of the
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market
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well one would think that's what it
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means too but it's actually
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the complete opposite
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when there's a lot of fear that means
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people are actually becoming delusional
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and slightly manic
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they're starting to drink the moon
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kool-aid
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that price action will never stop going
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up and up and up and up and up and up
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so when the fear is high that we usually
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or should i say
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always see a correction
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and as such
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by the power vested in me by the bit
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squad i hereby change the name from fear
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and greed index to
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the fomo index
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when the fomo index is high
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the fomo is high
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when the fomo index is low
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the fomo is low
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so the fomo index today based on the
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fear and greed index
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is at 79 which means fomo is high
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and that's it my job here is done a big
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boy just kidding
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noisy miss news bomb social media market
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sentiment in a rent control department
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in queens has jumped to 89 which means
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every time people talk about bitcoin
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it has an 89 positivity rate
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and bitcoin dominance is slightly down
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to 42.78
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as is the 24-hour volume at 74.8 billion
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and the overall market cap
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has remained at 2.18 trillion give or
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take a couple hundred million
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the ada gang rocked the casbah yesterday
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that snuck in another all-time high
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right around indian at 296.
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after slight pullback down to 283 it's
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back up to 292
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and i'm personally expecting
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riots in the streets by the ada gang
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when it blast past three dollars
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[Music]
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over on the bitcoin four hourly chart we
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find price action nestled quite lovingly
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in the arms of its squatter
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yes the 20 moving average the shoulder
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to cry on in times of need and crisis
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now by no means do i think we're in
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times of need or crisis quite the
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opposite actually but nonetheless
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squatters take every opportunity to get
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close and intimate and after price
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action slight rejection from 50k
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it's feeling a little vulnerable and
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that's where the squatter comes in to
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give it some support
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and tell it how beautiful it is and how
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it can't believe anyone would ever
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reject it and if it was him
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he'd never treat you that way and this
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is when price action feels the moving
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average's hand getting a little bit
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lower and it opens its eye and thinks
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yeah i should probably get the hell out
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of
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here and while the 20 moving average
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might be good for a midweek hang with a
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bottle of wine he pays for in a vampire
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diary marathon
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[Music]
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it's by no means boyfriend material
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it never will be
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[Music]
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however on the daily people have
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gathered in the courtyard to picket and
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protest the rising wedge they're yelling
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what does this look like a rising wedge
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what's it gonna do break downwards 70
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percent of the time
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and what are we gonna do about it
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nothing who cares let it break down so
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what we've talked about this
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it's normal and really are we to start
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marrying the ta statistics as universal
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laws now
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what have we seen in the past nine
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months that makes you think that a low
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b student like a rising wedge with a c
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minus great average
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is now the statistical authority on
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price action
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if anything this market when it comes to
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technical analysis these days
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has reason
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which reason knows not of
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i think even quadzilla setups with
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multiple confirmations have a 50 50
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these days
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because the tide the overall movement
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and direction of the market is hella
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bullish
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so while a rising wedge breaks to the
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downside 70 percent of the time
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i wouldn't take a hairy spazz
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by now we all know that corrections are
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good and healthy
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so what let it dip
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let's gain some healthy momentum
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[Music]
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in my younger days i didn't like dips
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they didn't jive with my rock and roll
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lifestyle they cramped my stees
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now years later and as a dad who airs on
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the side of safety and caution i welcome
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dips
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it's like brussels sprouts i didn't like
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them before now i do i don't know why
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but i do
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i guess i just understand the tide a
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little more
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and i don't get caught up in the white
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caps and the waves
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i prefer lying on the beach ordering
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drinks
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and breathing in the whole picture
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[Music]
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now over in the vegan tea shop
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there's a peaceful rally
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called crosses for hope
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and that's where people get together sit
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quietly and manifest the hope of all the
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crosses on the church
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they're not yelling and screaming
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they're manifesting and they have good
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rights to be
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on the daily we see the 20 moving
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average crossing the 200.
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historically hella bullish some say a
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golden cross
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now i've never backed up the truck on a
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gold cross nor have i ran into the bomb
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shelter on a death cross
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while they can have some sentiment power
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they've always just been as reliable as
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betting black and red on roulette
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now being a former roulette dealer yes i
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know weird job maddie b
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most people think red or black is a 50
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50-50
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but it isn't the house doesn't let you
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have even odds against it it's there to
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edge you out steal your money like the
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government so it has zeros and double
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zeros to get that job done
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so these crosses with their fancy names
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like golden and death
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they're just indicators telling us where
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price action has been and where it might
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be going
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so while it doesn't tell me to back up
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the truck
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it's still a bullish indicator in this
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rising tide of bullish momentum so
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remember
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we're playing the same game as our
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psychopathic elected leads
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[Music]
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that's right it's a long game
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so zoom out and have a
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fantastic day
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[Music]
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a bit boy crypto morning
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[Music]
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you
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