THE NEXT STAGE OF CRYPTO FOMO IS UPON US

 

“After the FOMO, comes the reality of accounts shatting the bed!!”

Now comes the “interesting” part of FOMO … open trap door after sucking ‘em in,

and watch the horror unfold for 0 - 120 seconds, where “Deer in headlights” and

account destruction go hand in hand … and that “protective” stop every book

tells you you gotta have, sees your fill at the bottom … GUARANTEED! … SURE,

you wanted to know about FOMO, but here it is “up close & personal”! … at least

so far, as the sun rises over Biden’s Gulag [a/k/a New York], it’s the same old shit

different day … Asia and early Europe SCREAMS in crypto, and then as the early

birds hit their Wall Street terminals, everything dies … unreal, but who’s

surprised anymore with anything crypto does or doesn’t do?

And just in case readers think I’m losing my mind, I direct your attention to the

ZH link below.

https://www.zerohedge.com/the-market-ear/bitcoin-has-never-happened

We’ve gone from NADA to “It’s never happened before” in basically 4 weeks

… and by extension, ETH is in this ballpark as well, not just BTC … it’s

“The Twilight Zone” meets “Wacko World”, and what shoe drops next out of

the blue and blindsides traders? … maybe nothing, maybe everything!, who

knows? … whether it’s today, tomorrow, or next week, crypto has a date with

a nasty ass “Thelma & Louise” coming soon … I refuse to believe institutions

are dumb enough on the collective level to keep FOMO-ing when both are so

overbought it’s record breaking in its scope … and given crypto can be crypto,

the sell stops in play will be considered genocide when its all said and done

… taking the algorithm into consideration then, RM levels on both m1 & m15

have to be on RM=3 & RM=4, and expect RM=4 to see more than their share of

price than in the past … the potential for “ugly” has a higher probability than

anything we’ve seen in the past.

Here’s the m1 up to about NOON EST.

click on chart to enlarge

On the ETH m1 I have 1) RM levels 2 & 3, 2) ZERO LAG MA, period 11, using EMA,

and below the chart 3) MACD of 8,15,8 with the SMA 8 line eliminated and only the

histogram … this replaces the 2 ZLMAs that were on the m1, and gives a cleaner

chart and easier signal to read. What I want for a long scalp, is for the m15 to

either hit RM=3 [orange line] or RM=4 [red line], OR on the m1 to see a spike

down to the same, OR see the ZLMA on both the m15 and m1 both WHITE in

color [up slope] … THIS LAST OPTION WILL SEE THE HISTOGRAM MOVE

HIGHER, WITH THE BEST TRADES WHEN IT’S AT OR OVER THE “0” YELLOW

LINE.

A tale of two cities for today … Asia & early Europe with good 2-way action,

and New York sucks, with most of the day on the downside … Still, both BTC &

ETH is sharply higher, and to say this shit needs a rest is a supreme

understatement … the first wave of stops off the top have been hit, but we need

to see some more damage, especially coming from the Asian & European

session, where most of the gains have come … it feels like that’s starting, but

remember tops are “processes” and bottoms are “events” … we could very

easily be in store for some very wide chop conditions over the next weeks … we’ll

see … only one trade for the PAMM today in ETH … WE’RE UP SLIGHTLY

… onto tomorrow.

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

IF YOU’VE NEVER SEEN FOMO, YOU’RE SEEING IT NOW!

 

“The Emperor knows what happens next!!”

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

IF THERE’S ANY SESSION VIX, YOU HAVE TO MAKE MONEY!!

 

“If you can make $1, you can make ONE MILLION more!!”

FOMO in the 2 big crypto pairs in full swing, as both the m1 and m15 go into

orbit … what’s surprised me is not the extent of the rise or how quick it’s

happening, but rather the consistency of the bid/offer spread in both has

remained somewhat stable at low levels compared to the past … during the first

few seconds of an explosion upwards, the spread in both expanded a tiny bit,

but not much before going back to normal … this is a welcome development at

Coinexx, where ETH continues to offer better trade logistics and trading action

than BTC, IMHO. … we’re getting the usual “blah blah, yada yada” from analysts

& gurus talking about the BTC ETFs and their “tail wags dog” effect and the

upcoming BTC “halving” coming April 14 and how in the past a halving always

has produced “bigly & yuge” upward pressure on price up to 3 - 6 months later,

and so the FOMO crowd is piling in early this time before the move … “welcome

to the party pal, YOU are the move!”

One of the algorithm’s areas I’m highlighting today is the m15, with the “vegas

mq4 code” for support [buy] & resistance [sell] for use in conjunction with the

m1 for scalping, or standalone for day trading … for ETH, I use RM=3 & RM=4

… use these “zones” for day trading, but unless the market is volatile enough,

you might have some wait … in that case if there’s a shift lower in session VIX,

shift down to RM=2 & RM=3. Directly below, today’s look at the m15 in ETHUSD

at Coinexx with algorithm overlay … The other algorithm component is the m1,

which I will cover in tomorrow’s blog.

click on chart to enlarge

Sixteen [16] trading days ago, ancient history to today’s crypto crowd, ETHUSD

was approximately $1000 lower in price … for you Biden voters, that’s about a

30%+ increase in such a short time … FOMO is nice, but trees don’t grow to the

sky, and when they do what comes next is usually butt ugly in the extreme going

“Thelma & Louise” … it only hurts when you hit the quarry bottom! … in other

words, caution up here in the ETH stratosphere is warranted … at present, given

the rapid rise in price, I’m looking for m15 values hitting RM=4 on the downside,

AND/OR EARLY [BEFORE 1 PM EST.] m1 values hitting RM=2 … these will offer

the best scalps when very short term sentiment is negative … later than 1 PM

EST drops have the potential to be bigger problems, simply cuz time is running

out in the day and scalpers / day traders have a tendency to not want to take

positions cuz of time constraints … and when SHTF, which it will in the days

ahead at some point in BTC & ETH, more than likely the steepest drops will come

in the EST afternoon. [As for the “Spoos”, I’ve seen bigger ranges and better

trading action in oat spreads … right now, they are far away in third place

getting lapped by crypto.]

As with any volatile market, just cuz price hits a line in the sand doesn’t mean

“Mr. Market” pays any attention to it … panic selling always burns itself out,

but that isn’t the problem … the problem is it can be greater than any human

thought, and if it continues will destroy an account quicker than burning $100

bills … and in crypto, especially BTC slightly more than ETH, it can spell

disaster … so, what needs to happen in order to initiate a long trade off

appropriate bottom RM levels is for price to stop going down and stage some

kind of initial rally … then and only then do you have something to “hang your

hat on” [with a mental stop underneath] … depending on the particular

environment of the trade, though, fills can be a problem on entry, but it is

what it is.

This is like the umpteenth day in a row, where trading action in NYSE hours lags,

and lags badly, action in Asia and early Europe sessions … it’s not the ranges,

it’s the trading action up/down … this is born out by the stats I keep and release

on Sunday’s blog update … on 2/2/2024, the ratio of NYSE daily range divided

into the NYSE MEDIAN RANGE was a hair over 81% for ETH … this week, it’s a

hair under 63% … almost a 20% drop!, in a frickin’ month!, and about the same

for BTC which is slightly better but not by much … NYSE cash hours still offer

the best session VIX, but I’m not likin’ the latest trend … doesn’t matter if you

consider yourself a scalper or day trader, or anywhere in between, if you don’t

learn the proper behavior of how to buy corrective activity “CORRECTLY”, the

volatility of these markets will eventually come for you like the Reaper!

Although the m15 didn’t hit RM=3, we did have an m1 move to the red line of the

RM=2 line, and when it stopped and started to rally, I hit the buy button

… another great fill from the Coinexx LP HFT whores, who filled us

approximately $6 higher … thanks fellas … PAMM UP FRACTIONALLY after this

clusterfark, and since then the day slowed significantly … onto tomorrow.

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

BANANA REPUBLIC EDITION: STARTING WWIII

 

“Secret spy bases in Ukraine? … gosh, see my shocked face!!”

Starting right after the coup almost exactly 10 years ago today in Ukraine,

fostered, bought & paid for by Preezy Empty Suit, and directed by the CIA,

here comes the New York Slime in its Sunday edition laying out the bombshell

news … the link directly below.

https://www.zerohedge.com/geopolitical/cia-built-12-secret-spy-bases-ukraine-

waged-shadow-war-last-decade-bombshell-nyt

Well now, this is a little embarrassing for the Uniparty War Hawks in the Banana

Republic who’ve never seen a war they didn’t like … EXIT QUESTION: “WHO’S

BEEN LYING FOR 10 YEARS ABOUT THIS SHIT, AND WHO’S BEEN TELLING THE

TRUTH?" … Obumba started the lies, the CIA hid it from Trump, and then

“Taliban Joe” picked up the slack and ran with it again … Putin was telling the

truth all along … but of course, as the state run Banana Republic MSM will

gladly tell you, Putin is an evil killer, liar par excellence, and murders political

opponents to name just a few … what’s that make Obumba & Biden then? … oh,

but I forgot, we’re the “good guys” somehow for trying to start WWIII … and

like the Sheeple Dopes wandering around looking at their smartphones all day,

you keep voting for the same mindless evildoers election after election, and

then somehow expecting a different result … that’s the classic definition of

a “Moron” … well, if the shoe fits, wear the fucking thing.

And if that’s not enough, here’s a “twist” the propaganda Fucktoids in the

Banana Republic will find interesting … the link below.

https://www.zerohedge.com/geopolitical/ukraines-top-spy-chief-says-navalny

-died-blood-clot-rejects-murder-narrative

Oh wait, he died of a blood clot, confirmed by Ukraine, and furthermore was

scheduled for a prisoner swap before he died … again, who’s lying and who’s

telling the truth? … “you can’t handle the truth!”

WTF got into ETH from the Sunday night open from Friday’s close? … up over

$150 while BTC remains flat … have seen no news that would cause this spike,

but hey … CRYPTO! … no news needed, just FOMO loving Asian session specs

who got tired of playing Pachinko at the local casino! 

News that BitForex has stopped withdrawals from their crypto exchange,

I thought, would have more of an impact on BTC & ETH price … it didn’t

… and away we go again with the NYSE money laundering open … nothing

like a mini melt up to stir the FOMO crowd, huh?

Markets [cough, bullshit, cough] are what they are of course, and there isn’t

much I can do when everyday shit blows up at the NYSE open and heads off to

the sky like a rocket ship … why should today be any different? … huge range in

ETH, but what good is it when there’s no corrective activity? … finally, after

about 2 hours of chop up near the high ETH profit takers show up and we’re able

to see some corrective activity for scalps that make sense … both ETH & BTC

hitting RM=4 extremes on the upside today on the m15, and some hits on the

m1 at RM = 1 & RM=2 … tomorrow I’m gonna highlight how you can use these

levels to either day trade or scalp effectively … multiple PAMM trades today in

ETH, and WE’RE UP SLIGHTLY … bought ETH at the RM=1 orange line at 3130

on the afternoon correction, and got filled at 3136 and change … nice fill fellas

… onto tomorrow!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas