Remember 9 days ago? … ETHUSD up approximately 50%, hitting 3400, and it
ain’t solely cuz of rank specs going hog wild … there are some real reasons, both
institutional and from a technology perspective at work here, and where this coin
is headed over the next few years [IMHO] will make 3400 look like a frickin’ bargain
… ETH the clear front runner in building out smart contract block chain tech by a
wide margin … quite frankly, although the analogy isn’t perfect, ETH is Apple and
it’s 1977!
From a trading perspective, there has never been a more volatile group of markets
than crypto … cost to trade, either bid / offer spread OR “gas fees”, OR BOTH are
a literal minefield to navigate … these markets can eat up an account and turn it
“toes up” in a matter of minutes, if not seconds, and the top 2 “Big Dogs”, BTC &
ETH are as heavily manipulated by “Whales”, as FX is by central banks … the
only difference is, the “Whales” manipulate for PROFIT, and therefore their
actions actually INCREASE VOLATILITY, something which is beneficial to other
traders … but, higher VIX is a “2 edged sword”, and get on the flaming roller
coaster yo-yo ride from hell, and it won’t take long before you’re beat up &
bloodied beyond recognition.
And ohhhhhhhhhh boy, mid to late morning, here comes Grandma Yellen talking
rates going up just a “smidge” higher, cuz “transitory” and everything!
… apparently Spicoli doesn’t know this, right? … Bwahahahaha! … and if this
doesn’t clue you into just how crooked, corrupt, and looking out for the elites,
these assclowns are beholden to, then there is ZERO hope for you in seeing past
your rose colored glasses! … and in another one of those amazing “coincidences”,
right as gold appears to be crossing 1800, here comes the Apparatchiks talking
higher interest rates … who benefits Grandma? … scumbag LP bank bullion
dealers who are short WIN, LONG specs get “monkey hammered” in the selling
frenzy soon to follow … amazing how this always happens to save the scumbag
banks and their short positions … and for what it’s worth, silver got clubbed
even harder.
It’s like somebody made the “FIRE”! WHISTLE GO OFF, and everything went to hell
in a handbasket rather quickly … for their part. Turnkey’s crypto LP’s decided
enough nonsense, “we ain’t given anybody ANY FRICKIN’ DEAL! … PAY UP”! And
so, natch, bid /offer spreads went North “bigly & yuge”, with BTC seeing $70+
upwards to $150 at one point, and ETHUSD seeing $20+ … “yea, no thanks
scumbags”! … the only thing not moving was Cable, which can’t decide what to
do or when to do it, and the 5 people currently trading it are a bit confused
… certainly, Grandma Yellen’s musings cannot be good for “Stonks”, but that
doesn’t necessarily mean they go down, it might just mean they don’t go up
… big diff mi amigos! … meanwhile, the scumbag LP’s in the DOW30 felt it
necessary to raise the spread here as well … why? … cuz they can, so why
not? … who’s to stop them?
One algorithm signal trade today in ETHUSD … TURNKEY PAMM UP SLIGHTLY
LESS THAN 0.1%
Earlier today, before all hell broke loose to the downside in crypto, the ETHUSD
spread was good, right around the $1.50 - $2.25 level, and the algorithm gave a
buy signal … made the trade, booked the profit, and waited for the next trade to
come … what came instead was the start of the ride down to near the low of the
day, and the start of widening spreads … as we neared the New York open, gold
was running hot, going straight up, but as so often happens nowadays, there
isn’t any correction to get long, and the second it hit 1800.09 bid, it was straight
down the rat hole … “Gee, I sure hope nobody is long from up here” sings the
scumbag bank chorus … and here comes the cherry on top of the bank cupcake,
with Yellen’s mumblings to help them out … and after the “higher interest rate
mantra”, I’ll let the dust settle into tomorrow before I go looking for long
algorithm signals.
Over in the crypto alt-coins, some good 2 way action in ONTUSDT, and multiple
algorithm signals … “The Syndicate” UP APPROXIMATELY 1.57%
Yes, it’s good to be a gangsta!
… outta here … “the future’s so bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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