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Fomo

ETH to the moon! What is causing this steep growth?WooHoo! ETH at 1450 point! But wait... What did just happened? Why the stale market turned bullish all of the sudden? 🤔 Every daily trader understands that volatility is key to profit and they are celebrating it today! Maybe that is why no one is asking WHY did this happen? Why ETH did not go to 1200 as it was forecasted? Why Monday demand and volumes were so low? Why this obvious down-trend did not trigger a selloff? Why RSI was so high? So many questions to answer. Let's take a look at the data - it has been a record low demand, trade volumes and volatility for 3 continues days. Most traders took their weekend off as 2% volatility did not offer much room for profit. That is perfectly understandable. Monday surprisingly was the same - almost no one was trading, record low demand, record low trade volumes and 1,5% volatility. It would be normal to assume that the market is just overpriced and a sell-off is just around the corner, but that did not happen. 3:45 GMT all of the sudden market turned greed. Not normal green, just marginal green and continued that way almost without a fault for 17 hours straight! So what really happened? For the first few hours of price rising, there was no whale activity, no sharp rises. No demand, low volumes. However relative market data was not bad. RSI was promising and market data suggest that BOTS were slowly buying. Since there were no other participants, SRI sky-rocketed and more BOTS started to buy. Just by 10pm GMT volumes started to raise as small-time traders joined the game and FOMO began. Here you go, empty market with no interest or demand was able to fix itself. Fascinating. 🎉 Now back to business - today's technical data: Position is long, forecasted highs are at 1455 and maybe even heading towards 1500! Foreseeable lows may be 1420 and 1400, with murky waters in regards of new support line yet to be discovered. Have fun trading!
BITSTAMP:ETHUSDLong
by DataMoney
11
Friday FOMO! How much are you willing to lose?Wednesday and Thursday market disruption continues. The pattern is switching mid-cycle making everyone uncomfortable. Thanks to everyone dropping me messages and sending screenshots of whales spoofing the market with 100-200 BTC bids at a mid-price point. I feel your pain, it does suck. Friday FOMO is on, position is long. Todays's forecast shows highs of 1410 (unchanged from yesterday) with a new potential high at 1450. The low points show strong stop support at 1292 it bounced of many times in last 24 hours. The lowest forecasted low may be 1243. Have fun trading!
BITSTAMP:ETHUSDLong
by DataMoney
YOLO! THE CASINO IS OPEN.You Only Live Once! That's the sort of sentiment that's driving Gamestop north like nobody's business. GME share price rocketed only because a bunch of Robinhoods pumped it. Then some guy who builds rockets tweeted about it, and it moved madly more north than ever. Billions were lost by short sellers, and they then turned long joining a load of other late comers. Price when to 'the moon' and may reach MARS next stop - some say. 🤦‍♂️ There is nothing of fundamental value matching GME's share price. Market value has hit $10 Billion for what? Nothing. Robinshoods were quite open about it that they just got onboard, driven by FOMO and YOLO. There is much to be learned in this one. How? Because similar forces are driving the DJI and Tech indices in America. DJI current value exceeds true value by about 20 times. All of this madness was played out in the Dotcom bubble years ago. We know how it ends. We don't know when it ends. The beginning of the end, is right now. This is absolutely not a recommendation to invest in this stock. There is good educational value in watching this stock. New traders would benefit from having a shot, only on Tradingview's paper trading account.
NYSE:GME
by Captain_Walker
38
RSI/SMA/Pitch Fork Support and Res. BTC BREAKING BEAR TREND.Historically a shift to a bear cycle in BTC is marked by a 50% drop within a 2 week period. If you actually look at this latest correction it really only measures about -27%. Thus I feel it does not warrant any closing of short term positions. I actually find this drop to be comparable to the April 2017, prior to the REAL FOMO coming in. The chart shown here is BTC, derived from the Coinbase exchange. The beginning of the channel shown(also where the pitchfork begins) is where a parabolic shift up began(Representing an explosion of growth), this can be confirmed by an uptick in volume, as visualized by the volume SMA. The purple SMA is 100 length, which historically is also broken when a bear cycle begins. The blue SMA is 16 length. It is KEY that the 16 length SMA is broken for the Bull trend to continue. The RSI is often said to be obsolete, clearly this isn't the case on 4hr charts. This makes sense since many day traders and swing traders use the RSI oscillator, but on the intra-day charts primarily. Please like and share!!
BITSTAMP:BTCUSDLong
by RichardNorthrup
DOGE/USDT FOMO WarningAs most of you all have seen, DOGE has seen some crazy gains today and yesterday. I did predict some kind of gains earlier, but not to this extent! This post serves as a warning for crypto investors: you missed the boat, move along. More opportunities will follow. Today's increase has been marked mostly by investors buying with large amounts of leverage, it will bite you in the back if you're trying to do the same now. Most of DOGE's steep daily gains over the last few years have been a maximum of two to three days, followed by steep sell-offs. Learn from the past!
Short
by FieryTrading
3
Investment advice and portfolio revealProbably I’ll post this text several times (under each ticker) that I mention below, as the meaning of the writing necessitate it. Introduction and the mindset: 8-10% of my wealth is in the US stock market, other almost 90% in real estate in Europe. As for the stocks, you got to have a diversified portfolio in my opinion. As my experience tells me you can be lucky sometimes and you also gonna be unlucky at any given time (and unexpected all the time). So one can not count on luck and/or feelings (I call it being on Hope-ium). This is the reason for the need of diversification, especially in this unprecedented (word of 2020, right?) environment. Lots of analysts say the market is overvalued, stock prices are overstretched (the SPY and tech at least). I think this is partially true and it does matter sometimes, it does not matter too much other times and/or instances as you’ll see soon below. OK, too much talk already, I will show you my portfolio and talk about my ideas with numbers, entry points, targets and even risks. My past fundamental ideas (as for reputation, not a bluffer): In 2019 I only had 2 ideas, both based on my fundamental analysis and they were for investment (so, not for short term trade ideas). Tesla and Bitcoin. For TSLA my entry plan and buying advice was @ $426 in December (pre-split price, so if you are new, divide it by 5). For BTC I stated that I recon we have to wait for the beginning of 2020 (according to my plan it was most likely for about February) and buy the expected dip - according to my readings - at $5500. Of course Covid came and things got crazy, but we didn’t expect that. Lots of losses and learning, but here I share some useful thoughts and ideas. I learned technical analysis, but these fundamental ideas born according to my own research, also wanna add, I didn’t know any known influencer back then. My recent/actual ideas and how to do it: I divide my stock portfolio for 5 sectors in a way that if even 3 or 4 of them fails, the other 1 or 2 will pay out so much, I wouldn’t mind and never lose. My sectors watched: 1.REIT (they will pay dividends) 2.Energy (they will recover) 3.Commodities (we need them whatever happens) 4.Biotech (necessity too) 5.Insurance (self explanatory). The SPY is driven by tech, so I left it out for now (with a small exception), as no need to risk now, because tech is a bit overstretched at the moment and even if it’s going way higher, my ideas will too. But if tech is not going higher, I will still make profits (hence the so called ‘K-shape recovery’). Not easy to do this in such overvalued levels but not everything is expensive and also note, that not every cheap stock is going to die off, so the main buying habit of mine is what George Gammon likes also: “I buy a dollar for fifty cents” if I may quote him here. This idea means that I buy according to the actual (and my own) valuation, plus the current stock price of the company and not according to the momentum or the horde, in other words the ‘best performers’ according to popular Youtubers, similar influencers (or the mainstream media for that matter), as history shows that the majority loses and the minority wins (at least during those crazy unprecedented times like now when soon everyone is in the stock market examples I analysed: 1929, 2000, 2008). Doesn’t that tell you that it would be wiser to be on the side of Michael Burry during the 2008 stock market rally instead of everyone else? Yeah, I know, it’s not easy and also, “this time will be different” :D But jokes aside, I believe at least in a way this time it actually could be different, the task is to understand fundamentals, think a lot and make smart decisions based on your own research. And the more you read and think, the closer you might get to some advantage and solution that will pay off highly likely in every possible scenario in the future. Why and how? A simple enough hint of mine for example is, if a stock is a ‘top performer’ that fact might actually mean it already did what we expected from it to do (otherwise why the term?), so you kind of could already be late, but you would never know. This is when FOMO comes in to play, beware! Sure, you can be lucky and participate in a bubble just like how it was with Yahoo in 1999-2000 but only afterwards (years later) could you for sure realize that it wasn’t a good idea to buy in around 1999 as you didn’t sell at the top (2nd of January, 2000) did you? Even though the “long term fundamentals” that they talked about back then, they all turned out to be 100% true, because tech went higher for sure, Apple is still a winning company, we are surrounded with computers, smartphones and it's all tech and internet and websites, we still use yahoo mail every day and listen to yahoo finance and so on. Tech is cool and king. Still, the dot com bubble was bad and painful for the majority. See, everyone was right except for the ones who bought in at the high prices because of FOMO. As you see now, those ‘top performers’ worked very well for those who bought in at the bottom or even half way to the top for swing trades (but that was just before you heard about them and not really any time later). So, the problem is that no one ever knows when is the top of a bubble or any kind of run up that is driven by sentiment if it’s not a slow and steady growth corresponding both the fundamentals and financials in other words the real growth of a company. So the solution is to better find one that is trusted and/or have future and not going bankrupt soon and is beaten down to the ground. That’s when you buy in. Warren teaches this too, but this is my own thinking and just a coincidence that the old man says it too. So, I reveal here all my stocks and investment picks that I either bought and/or had planned or advised to buy so far with my first entry prices during 2020 (not placed in order of any sort, but just random). The majority is investment for 3-5 years the exceptions are the swing trades (I mark them “swing trade” as they are not investments): TSLA again @ $358 (pre split); NYMT @ $1; IVR anywhere below $4; NIO anywhere below $5 (swing trade); HEXO @ $0.74 (pre split); ASTC @ $1.82 (swing trade); CDEV @ $1; LMND @ $47; TXMD @ $1.2; LXRX @ 1.93; GNW @ $3.26 (swing trade); WPG @ $1 (pre split); CRSP @ $60; gold below $1700; AAL @ $10 (swing trade); AMC @ $2.84 (swing trade); BTC @ $5500 for investment (and was swing trade too, from $7000 to $9000 because I had to pay property tax and did it from the profit).
AMEX:SPYLong
by janfoux
1
What is the FOMO limit?It is very difficult to precisely forecast the BTC potential growth limit, but we will tell our opinion, based on some interesting notification. Let's assume, that the 2017 year scenario will repeat. We had a base level (fundamental price) approximately $3800 for 2017. The huge growth phase lasted almost 70 days. Nowadays, if we look at this pattern, apply to the price chart, we will see the new base level is $10500. The potential target level is $25500. But it can be higher, if we calculate the new bubble highest high according to percent growth. We need to wait the ATH level breakout, to make the new predictions.
by Skyrexio
2
BITCOIN in Extreme FOMO Territory - A WarningOn the weekly chart, Bitcoin currently has a RSI value of almost 83 points. The last time this happened was during the great bull-run of late 2018, with a 70% loss of value from the top in the next two months. Although the RSI is not a perfect indicator for predicting reversals. However, it's useful in warning traders when a certain asset is being overbought i.e. FOMO. The higher the time frame, the better the predicting value of the RSI becomes. Bitcoin is currently residing in extreme FOMO territory. Fear Of Missing Out could lead to extreme profits if you're early, but most of the time, most of the traders are too late and will eventually get burned by either buying at the top or by not taking profits. This post indicates as a warning for traders to be aware that the price is this high because people are afraid to miss the train, not because Bitcoin is actually as valuable as it might seem. In an earlier post I made the comment that Bitcoin might hit $2000 soon, which still stands. If we see another week like we just had, we will definitely get there. What will happen after the $2000 mark, no one knows.
by FieryTrading
1
12,000 BY SEPTEMBER 3RD (bullish pennant) - 2 validation ticks Good evening -Yurlo (Please smash that like button) 👍 2 hours and 30 minutes until today's daily close (8PM est) Expecting scam wicks/pumps over the weekend, CME gap will be opening and closing this weekend (always good to factor in with price action) This is the 6 hour chart - & an inside look on my last technical analysis post (the monthly chart - which can take a few weeks to start trending) Remember - stick to your trading plan, be smart about your trades, be consistent, be disciplined and most of all have fun! Cheers.
BITFINEX:BTCUSDLong
by Yurlo
5