Massive Cardano Pump to $2.54 (Bitcoin & Crypto Flashing Bullish Signals)
BitBoy Crypto Morning TA Good morning, everybody. It’s August 20, 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 up to 74 from yesterday’s 70. And nosy Miss Nussbaum’s social media market sentiment in a rent-controlled apartment in
Queens has jumped up to 74 as well, which means every time people talk about Bitcoin, it has a 74% positivity rate. Bitcoin dominance has dropped slightly to 42.99%, while the 24-hour volume is up to $77.5 billion, and the overall market cap is up and over $2 trillion sitting at $2.05 trillion. And the ADA Gang were dancing on the ceiling Lionel Richie style as Cardano tripped the light fandango carving out a new all time high of $2.54. Now, over on the 4-hour chart, we see Bitcoin price action make short work of the 50 and the 20 moving average, wasting no time converting both from resistance to support. Now, yesterday, we said it would jujitsu its way past with ease before facing the boss of all moving average bosses, the 200 moving average, over on the daily.
Zamboni, quench our suspenseful thirst as to what happened. Yes, no hesitation. Up and over. It just rolled down the windows, stuck out its head and said, “I can’t talk, 200. I have a date with the goldenest of golden ratios, the 1.618% Fibonacci level.” Yeah, it’s up at $46.3K. I know it’s been a sticking point, but the 1.618, let’s call it the 62% Fib level because I’m in a passing car with a window open. It’s just easier to say. It’s really where the serpent eats its tail, and new beginnings are created. Yes. Just like the Semisonic song Closing Time. I get it. “Anyways, I’ve got to go.
Take care. Hopefully see you never.” And the 200 moving average said, “See you later, kid. I’ll be over here acting as support just lagging away in the wind.” Oh, and out on the weekly, I know you’re probably saying, “Hey, Piano Matty B. What’s with the weekly chart popping up so frequently this past week? You never mentioned it, then all of a sudden, it’s all up in our faces.” Well, picture the weekly as the price action ocean. We view it as the macro tide ebbing and flowing in and out. Higher and lower, one might say. Now, within the tide exists the daily chart. And those are the waves. And as humans who lack a real sense of time, other than comparing everything to our own lifespan of roughly 83 years, these waves are what we as investors and traders ride into the shore, and as such, we need to know which wave to catch, and once we catch them, we need to know how to exit them properly so we don’t crash and burn on the coral reef below the tide, the Davy Jones’ Locker of investors, if I may be so bold. And finally, we have the 4-hour chart, which is the ripples and all the noisy rolling whitecaps that can tell us where we are in the wave, but ultimately it’s a function of the wave. “Whoa! Matty B, you’re getting all surfer guru-y, like Keanu Reeves’ character Johnny Utah in the 1991 summer sleeper hit Point Break, a film about a young FBI agent trying to catch some bank robbers while being seduced by the surf culture and ultimately struggling with the concept of good and evil and his role in the justice system juxtaposed over a corrupt banking industry. Sound familiar? And don’t blink because you might miss Red Hot Chili Peppers’ bassist Flea’s cameo as a meatheaded red herring surfer. Oh, yes, the weekly. The ocean tide.
I was surfing on my own tangent, one might say. I’ve been watching this week to see if Historical Norm’s fifth week cool-off candle would play out. And right now that candle has turned green. And I know you’re probably thinking, “Piano Matty B, what’s with the glum face? Isn’t green good?” Yes, green is good. However, being a dad and erring on the side of caution and safety, I wanted to see this candle print red just to let off a little steam. I mean, at this point, we’ve endured the depths of the pullback candle, so before we blast off to $53.2K, let’s just print it red! An homage to our collective worry this week. And reset this ocean tide. And if it pulls back to the 62% Fib level, the goldenest of golden ratios, it will print red. And as a dad, I can lay my head down with the TV on and earbuds playing a podcast, of course, knowing that the market movement is synchronized with the ocean tides, and we can leave for the cabin not thinking “Did I leave the oven on? Or the garage door open?” So remember, we’re playing the same game as our psychopathic elected elites. That’s right. It’s a long game. So zoom out and have a fantastic day. And it’s Friday, so sing me out. A three four– Whoa! Chachachaching! Have a great weekend, everybody.