Chronically online girlfriend discovers RaptureTok.
So apparently the Rapture has gone viral. The world is ending tomorrow by the way. Well... not ending, but the beginning of the end, you know? Because first all the good boys and girls need to get sucked off into the sky before Armageddon can begin, and really the apocalypse itself hasn't concluded until everyone on this Earth is dead. Pretty sure that's how it works.
So yeah anyway people are being absolutely ridiculous about this and giving absurd advice like, "When you get raptured don't try to hang onto anything," with the authority of someone who's done it before and knows what they're talking about. The entire thing basically reads like satire but these people are 100% serious. Imagine thinking you're such a good person that you're guaranteed to go straight to the promised land without any trials or tribulations. Ironically enough these are the people who almost certainly would not be included in the rapture. Jesus doesn't care that you went to church every Sunday, friend; you're still an insufferable trash monster.
It's gone viral on TikTok, not because people actually believe that the world is ending tomorrow, but rather because all the "heathens" are busting out their popcorn and spectating all the pure unadulterated delusion. I'd say go check it out but I won't because it's TikTok and I can't stand it.
New moon strikes again
As if almost by command the new moon we got yesterday definitively brought down the price of Bitcoin below the trendline resistance we've been ramming into for a week straight. My short is now solidly in the green and I plan on keeping it open for another two weeks, or till $103k, whichever comes first.
Social media is buzzing with the familiar lamentations of, "Why number go down omg everyone is buying it must be fake paper Bitcoin again." As if a 2% dip in the worst month of the year somehow signifies a confirmed conspiracy theory. Once again need I remind everyone that actual rich people don't have to trust Coinbase to buy the Bitcoin on their behalf. They are all using multisig at this point and can 100% confirm that the Bitcoin they are purchasing is right their under their control, with Coinbase only acting as a failsafe to make sure hackers can't get at these huge honeypots.
Entities like MSTR are also completely protected by law from bankruptcy proceedings. Random degens keep comparing a potential collapse to something like FTX 2.0. This is legally and fundamentally not possible considering how these positions are setup. Remember that every bear market has been sparked by something completely different than the previous one. 2014 was "hackers". 2018 was "futures market manipulation". 2022 was "overleverage". 2026 will almost certainly be a completely new narrative. Maybe a "quantum" threat? Who knows.
Pump into death-cross dump into golden-cross?
The interesting thing for me here is the MA(25) and MA(100) hugging each other for over a week straight now. This is not something we get to see very often. As stated in an earlier post any price point between these 4 moving averages is healthy and exactly what I want to be seeing during the consolidation month of September.
If we don't dip under $108k by the next week or so we'll have basically just created another higher-low which is just another bullish indicator is an ocean of bullish indicators. The real currency in this case is simply the patience to wait for Q4 (and potentially into Q1).
Three month heatmap
On the leverage side of things we can see that bearish headhunters are still financially incentivized to continue pushing the price down to around $106k to bust up all the leverage from the last big dip in August. Anything around the $103k-$106k range is a time to load up and potentially leverage long. I'm still absolutely shocked that these degenerates don't have to common sense to make a big bet with liquidations right under $100k, but here we are. The most obvious area to make a bet is relatively empty. Classic gambler syndrome.
Conclusion
The world isn't ending tomorrow.
Or it is.
Either way don't worry about it.