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Bitcoinbearslayer

Bitcoin breaking $60K SOON !!!If this inverted Head and Shoulders plays out as drawn we should break $60K very soon. If you feel risky you could go long at the bottom of the right shoulder with a stop a few dollars down and if you are more conservative you could go long at the break of $60K with a stop just under your entry. (or whatever are your stop tolerances) The first profit target would be at least $62K or the entire height of the Head and Shoulders pattern. But..... we have been consolidating in this range for a very long time so if the price breaks $60K again I do not believe it will just stop at $62K. It may start to run and run HARD! Watch for heavy volume to confirm the breakout. Me? I'm still long waiting for the moon.......... :0) BBC Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin Channel = Buy, Hold, or Sell ?Here is a 3 Day Channel that goes all the way back to 2018. If we break out of the top of the channel like in 2018 I will hold until a top forms and then sell some before the next bear market. If we go to the bottom of the channel I will buy and then hold as we go to the top or out of the top of the channel again. If we break the bottom of the channel I will hold and then rebuy around the new bottom and DCA up again for the next bull market. (Breaking the bottom of the channel assumes we have already broken the top and taken some profit to redeploy later) Since all of my objectives are long term (years) my only real sell target is the top of this Bull Run so as to build back a larger cash position for the bottom of the next bear market. I do not think we are at the top yet. This is a mid-market pull back that should either bounce right now at the mid-line of the channel or at worse can turn at the bottom of the channel and then continue to new highs never seen before. That is the point I will take a few chips off the table. Simple chart, simple plan. No matter how you play it between now and the end of the year, good luck! BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin breaks $57K and rising.....Hello my fellow Bitcoinistas! Nothing special today. Just sitting back watching my hodl stack grow! According to Metcalf's Law Bitcoin is WAY UNDERVALUED according to the size of the Bitcoin Network and the price is currently trying to catch up IMO. Some are talking $100K to $300K minimum by the end of the year and that is totally possible IMO. Supply is dwindling and Demand is increasing. What else can happen to price? Plus, the market cap of Bitcoin is now over $1 Trillion Dollars and that is the trigger releasing a whole new class of institutional investors to get involved. Many large funds cannot buy assets valued under $1 Trillion. This is no longer an obstacle for Bitcoin. Many, many reasons for higher prices going forward. Time for me to just sit back and watch. :0) At any rate, just posting this chart to watch the action going forward. Have a great weekend! BBS Out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
The Bitcoin Bull Flag - Either it will, or it won'tBitcoin has clearly broken out of this Bull Flag and if the close on 1/31/2021 stays above the flag the price should continue North. There are a lot of opinions out there with all that is going on but I'm sticking to my faith in where Bitcoin is ultimately going. Since Michelle Saylor thinks the same way I believe I am in good company. This next coming week should be very exciting for Bitcoin. Are you in or out? I'm in!!!! Good luck. BBS Out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
4
Bitcoin Inverse Head and ShouldersCould we be prepping for another leg higher? Possibly if this is a valid Inverse Head and Shoulders. Everybody, however, seems to be looking for a major pullback/correction but so far even 10% dips are being aggressively bought up. Why? It may have something to do with the fact that there are ONLY 2.4 Million Bitcoin left to be mined. The Demand is so high right now the daily production of 900 Bitcoin is being bought up by the Big Money. So what does that leave? YOU! Are you going to sell the institutions like Grayscale your Bitcoin position? I'm not. At least not at these prices. And even when the price reaches 6 figures plus I will never sell my entire position. Just enough to do whatever it is I would like to do at the time. :0) No matter how you play this Bull Market I wish you all the best of luck! BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
2
This Bitcoin chart scares me in a good sort of way :0)Using the monthly BLX chart of all Bitcoin data I was able to create this chart. I found that Bitcoin forms a triangle after each halving. Using the halving date vertical, and the previous all time high horizontal, the point at which it intersects the curved average line forms a triangle. If the past height and length of the triangles formed are a result of past prices then why can't we guestimate the future price using the same geometry? We know the approximate date of the next halving so this forms the vertical of the next triangle. We also know the curving average should run about the same in the future as it has in the past. That makes two sides of the next triangle. Now if we assume that the length of the next triangle is 3 months longer than the previous we can now draw the height to get the price. What did I find by doing this? During this Bull run Bitcoin could very well peak at around $229 THOUSAND DOLLARS! I know that may sound crazy but it's just geometry. If I am off by a few months on the length of the next triangle it could push the price higher or lower. But I see no reason that it should not follow the previous trends. We're only talking plus or minus about 3 months. Either way I still think we are talking a price range of $200K and possible higher. That's double that anticipated $100K target everyone is looking for. Anyway, I found this to be very interesting and thought I would share it with my fellow Bitcoinistas! Still long and holding strong for all I'm worth. :0) Good luck out there if you are a trader. I'm just a hodler and will remain so until I see at least 6 figures. BBS Out!
BNC:BLXLong
by BitcoinBearSlayer
3
Bitcoin - The NEXT leg UP!Hello my fellow Bitcoinistas! Boy times are getting exciting are they not? Now that we have hit blue skies there is nothing but the current price action to give us clues as to where we are and where we are going. For those of you day trading I pray for you. You will most likely get whipsawed in and out of thousands of dollars. For all you fellow hodlers out there I know you are smiling ear to ear at this point. Be that as it may, if the pink line on this chart does not get violated to the downside I think we are basing for another move NORTH! Do I care either way? NO. After 8 years of following and buying Bitcoin dips my DCA is well below the 4 year moving average at this point. In other words YOU CAN'T PUSH BITCOIN LOW ENOUGH TO CHASE ME OFF MY HODL POSITION! That, in my opinion, should be EVERYBODY'S goal. Keep buying the dips and building as low a DCA price as you can. When Bitcoin runs away from that level you can sleep well at night with a big smile on your face. If you can't sleep at night it is probably because: 1. You don't understand Bitcoin and you are just throwing money at the wall and hoping it will stick. OR 2. You are playing with leverage and you know any major swing can wipe you out. OR 3. You have too much on the line that YOU CAN NOT AFFORD to keep tied up for the next 2 years. If this is YOU, fix the problem. 1. Educate yourself 2. Stop using leverage trades 3. Only put in a little at a time so that you won't miss it if the price drops for a while. If the price does drop 5-10% but a little more. Rinse and repeat. Good luck everybody. I wish you all the very best outcome no matter how you decide to play this game. BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1