Bitcoin Ready for $50K (Huge Bullish Trend for 2021)
BitBoy Crypto Morning TA Good morning, everybody. It’s August 19, 2021. My name is Piano Matty B. That is Scaramoochies. And this is your morning TA. a brief glimpse into the crypto markets where the sun’s shining where the wind’s blowing all the humble opinion of this piano Zamboni, bring in the data. The fear and greed index is down to 70 from yesterday’s 73. And nosy Miss Nussbaum’s social media market sentiment in a rent-controlled apartment in Queens has remained at yesterday’s 70%, which means every time people talk about Bitcoin, it has a 70% positivity rate.
Bitcoin dominance has dropped slightly to 43.7%, while the 24-hour volume is $76.7 billion, and the overall market cap is $1.95 trillion. Now, over on the daily, we see not one but two spinning top candles. Well, I’d say maybe one and a half. This one really isn’t in the center, but let’s not mince words. These bring to the charts a high probability in a price action reversal. We’re still in that billionaires’ 3-minute parabola plane of weightlessness where you’re not really going up, you’re not really going down. “Well, Piano Matty B, I’d say we’ve been going down.” And I’d retort, “Well, you’re kind of right,” but I’d add, “You must have never played Where in the World is Carmen Sandiego?” Because if you did, you know that no matter how close you are to finding Carmen, the game makes you sleep. You can’t just traipse around the world looking for Carmen.
You have to take breaks. You have to sleep just like, dare I say, real life? Could you function without rest or sleep? Nope. I can’t anyways. I need a solid 6-hour min with a TV on and earbuds playing a podcast, or I’m barely functional. Bitcoin is no different. Here, we see Bitcoin running its hoofies to the quick and then rests with the TV on and earbuds playing podcast, and then it gets recharged and continues running its hoofies to the quick. Then rests with the TV on and earbuds playing podcasts.
Then again hoofies to the quick. Right now, we are resting with the TV on and the earbuds playing podcasts. It’s the humble opinion of this piano that our short-term golden slumber is about to come to an end and we will see price action once again start running its hoofies to the quick, and those hoofies will take price action to $53.2K. And the reason I’m so bullish in the face of these short-term bearish pullbacks is because they’re just that, short-term bullish pullbacks, and I’m blinded by the light of the MACD on the weekly charts. This right here is like the episode of Cheers where Diane left. It was a monumental character departure that had Americans glued to their 24-inch color TVs begging the question, “What now? And if not her, then who?” And, of course, most of us wondered if the on again off again romantic cat-and-mouseness of Sam and Diane was the glue that held the sitcom together.
But when Kirstie Alley straight-laced strictly business character Rebecca burst on the scene, we knew that the show was not only going to survive, but their refreshed new version of hijinks and romantic calamity would go on to win the majority of its Emmys and Golden Globes. And, yes, that’s a tangent of a comparison, but sometimes I can only express my excitement through 80’s sitcom analogies. And that’s why I’m so bullish in the face of short-term bearish pullbacks. I mean, look at this beautiful sight. It’s kind of like when the Ropers left Three’s Company. Just kidding. I’ll stop. And now, over on the 4-hour chart, we’re in a moving average pickle of sorts. In order to get out of the weeds, we need to push through the 20 and the 50, both coming at us like the guy in the bar looking for a fight. But with the momentum of the whales and a good night’s sleep under our belts, and a brief fisticuff on our way to the bathroom, the 20 and the 50 will be no match for price action. And Bob’s your uncle! But hold on, there’s still the boss-of-all-boss moving averages over on the daily. That’s right. It’s the 200.
And we’ll meet him, or her, I suppose, right after we jujitsu through the 4-hour 20 and the 50 at that pesky $46K level. And when we go eye to eye with him or her, I suppose, remember that Bald Bull from Mike Tyson has a band-aid on his belly button that he exposes every now and then, and if you hit that band-aid real proper like, then, my friends, Bob is your uncle, and that may very well be the last time we see $46K. And I know it’s bold and it’s daring, but so was bringing on Don Knotts as the Ropers’ replacement in Three’s Company. And remember, we’re playing the same game as our psychopathic elected elites. That’s right. It’s the long game. So zoom out and have a fantastic day. BitBoy Crypto Morning TA Whoa! Chachachaching!