The only thing certain about life inside “The Crypto Twilight Zone”, is that
there’s gonna be price “violence” … at some point, most likely sooner rather
than later, somebody is gonna panic “bigly & yuge” … long or short it doesn’t
matter .. why? … EASY PEEZEE: “this ain’t EURUSD or any of the other shit
[literally] appropriately labeled as “traditional markets”, meaning it’s
manipulated beyond belief 24/7/365 by the same people telling you to wear a
stupid face mask [psst! … it helps save lives! (cough, bullshit, cough)] … this is
crypto, a FREE group of markets led by Bitcoin [BTCUSD], where banker scum
have no role, no influence, and most importantly NO CONTROL over what goes
on, and so “greed & fear” are the primary motivators of market movement”
… movement, I might add, “Little Joe Stalin’s” inside government & the FED who
are now scared to death of almost any volatility in traditional markets cuz it
would expose their stupidity & incompetence in spades! … oh, can’t have that
happen, and the entire country has turned into “Goebbels time”, where anything
& everything is nothing short of pure propaganda to control Sheeple behavior
… pull the curtain away from the CNTRL-P machine, and “The Great Oz” is
exposed as a complete fraud … and nothin’ shows that better than a group of
FREE markets trading like markets are supposed to!
Yesterday, I forgot to mention that today is NFP Friday … “Oh fun, oh joy!
… NOT!” … and the question is, does it affect crypto or not? … I’m thinkin’ no,
but I also think that today’s number will miss “bigly & yuge”, so not sure what
to expect … in any case, crypto is an asset class that has arrived, and as such
money flows into and out of it like anything else … so, it’ll be interesting to see
if there’s any movement off the fairy tale numbers … “umm, nope! … missed
consensus expectations on the downside, and nobody cares … OK, good to
know”.
For “The Syndicate” today, I switched out of Bitcoin [BTCUSD] and into Tether
[USDT (dollar stable coin)] … the execution was simple: last night I’m simply
playing the “Chuckleheads” at the Asian open … if they take it higher I make the
switch then … if they try and take BTCUSD lower, then I know once Europe
opens it will either be high or will start rallying very soon, so I’ll wait for that
… well, it was the later, and looking at my charts I knew if this stuff started
breaking after a rally, if it got below a certain level, I’d make the switch
… otherwise let’s see if something in the high 19’s or maybe even a break above
20K is in the cards for today … after all is said and done, and taking into
consideration fees & other costs, we got switched over to USDT, right at 19,200
and a few pennies.
So, come Sunday on the blog update, I’ll have the new NAV, and going forward
this 19,200 level in BTC will be our marker for comparison purposes of BTC
versus trading any of the Alt-Coins [e.g., Ripple or others] … today,
“The Syndicate” traded Ripple [XRPUSD] and is UP 0.87%
For the Turnkey PAMM / MAM, I held off trading BTCUSD to the NFP report cuz
it’s the worst day of the month to trade anything, and while I was reasonably
assured it wouldn’t affect XRP, I wasn’t so sure about BTC … today has seen our
fair share of algorithm signals get blown through, but that comes with the
territory in BTC … so, no surprise there at all … since the NFP report, not a whole
lot of what I’d call trend movement … sure, IVIX INDEX LEVELS still “bat shit
crazy”, easily staying above 250+, and we’ve seen plenty of M1’s from hell that go
100+ dollars and then immediately die on the vine, but 5 hours into this
clusterfark where has BTC actually traveled to? … about a $400
“Flying Wedge of Death” [FWD] round tripper going on so far for our tradeable
day … up down, back to the middle … each trip attempting to either go above or
go below BOTH the 100 & 200 HR MA’s which are right on top of each other
… since “big money” loves to play these MA’s, you can’t ignore them, but on the
other side of the coin, when they break you’d better realize that the support or
resistance that was formerly there, has been left in the dust as it gallops
headlong killing your account … so here on this worst day of the trading month,
it’s a “tug of war” between hourly MA’s … now into the worst part of the day no
matter what you trade, the New York afternoon is upon us … trust me, plenty of
illegal scumbag bank LP prop accounts are trading crypto … plenty … they don’t
have the power they do over in traditional markets, but they do have dollars to
play … and while crypto never sleeps, it does start to slow down from mid
afternoon New York to about an hour to the Asian open … the BTCUSD we’re
trading closes for the weekend when FX closes at 5 PM EST. … not that it has any
affect on BTC, but it’s something to keep in mind.
No trading today in the TURNKEY PAMM / MAM.
Like I said, I had forgotten today is/was NFP Friday … I literally hate this day,
and always have, simply cuz it’s 99.99% fairy tale bullshit, and most often leads to
not so great trading in anything … well, chalk today up right into that camp! … the
federal government couldn’t screw in a fucking light bulb without it costing
$1 billion dollars, yet some math whiz kids who can’t find a job in the private sector
are gonna accurately tell me what the U.S. economy is doing? … Uh huh, OK
… good luck with that and make sure you take your vaccine and ask no
questions!
Before I call it quits today, I want to briefly highlight Ripple [XRPUSD] as a trading
pair … go to the “Duck Duck Go” search engine [screw Google] and simply type in
“Ripple XRP” and you’ll have 10 years worth of info at your fingertips for
background research … in short, though, Ripple is building out the infrastructure
for ODL [On Demand Liquidity] on the block chain, and that quite simply provides
instantaneous capital for global commerce & banking … extremely fast & cheap,
who needs a “Hoover Dam” bank that steps in the middle of everything, and being
the parasites that they are, takes a bigger chunk than need be for their own
pockets … quite frankly, don’t need ‘em anymore! … that’s just the tip of the
iceberg, but if you want further info simply check the search engine … but as a
trading vehicle, XRPUSD ranks right up there with BTC, but has much lower value
per coin, and therefore much lower spread & “taker fees” … quite frankly,
XRPUSD is not very good at Turnkey cuz of the costs and the size of a “1 lot”
volume [1,000 XRPUSD = 1 LOT VOLUME] … that means RT commissions come
to 2/10 of a cent, and then you have the spread to deal with … that comes in at
about 6/100 of a cent … total cost then is about 26/100 of a cent … over at
PHEMEX, even if I only am ever a “taker” [market orders] on trades, RT
commissions would be at current value about 9/100 of a cent for a RT, and the
spread is almost always at 1/100 or 2/100 of a cent … 26 versus 11? … yea sorry
Turnkey, you get an F for this pair!
Blog update on Sunday … outta here, until then … full steam ahead!
… Onward & Upward!!
-vegas
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