A classic institutional FOMO is unfolding in BTC & ETH, “classical” in the sense
there’s no panic spikes, but simply mini melt ups on every fractional break in
price over the last 17 trading days … led by corporate “Jimbos” running cash
treasury departments, their marching orders clear as crystal … buy, buy, then
buy some more cuz we’re moving cash into this financial sector … let’s see
what happens when it’s over, and how eager they are to step up to the plate in
a falling crypto environment and buy … my guess is, they’ll end up like rank
retail specs and panic sell some day … I hope I’m wrong about this.
Why should today be any different? … explosion in price overnight, and here we
are again looking at blown out ranges and medians far in excess of the 20 Day
values … crypto has officially hit “stupid” in a big way, and like all of the other
parabolic moves throughout history, the end will provide plenty of bloodshed,
we just don’t know from what level … this is a first, cuz of the ETFs and
institutional participation in a major way … when it’s time to sell, who’s gonna
be on the other side in a falling market with a 500 BTC coin bid? … try nobody
… doesn’t do them much good to sell 0.001 BTC every $100 lower when they
got hundreds or thousands of BTC to sell … reminds me of the “portfolio
insurance” debacle that led to the 1987 stock market crash … only this is
crypto, it could be a lot worse! … not prediction’, just sayin’!
I had planned on showing the m1 algorithm for scalping, but when shit goes
parabolic and never backs off, what’s the point? … this feels like a “blow off”
to the upside, but with institutions leading the change, who knows how long it
can last? … bid/offer spreads have just gone “nutz” … and at 19:31 [12:31 EST]
server time, here comes the first sell stop hunt, where price goes lower by $200
within 60 seconds, right along with a $20+ spread … typical crypto … too
dangerous to be long, and if you have a sell stop thinking you got any kind of
protection, you’re delusional … your fill is at the BOTTOM! … there were algo
signals at higher RM levels on the m1, but with the ETH spread insane and not
coming in but remaining NUTZ, this stuff can’t be traded with any probability of
success that makes sense … onto tomorrow.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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