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Bitcoinbearslayer

BTC - Next Target $20,250Hello my fellow Bitcoinistas! What a ride so far! If this bull flag breaks North I would expect a target of at least $20,250. Of course everybody is calling for a pullback and we may in fact get one eventually. But as long as everybody is calling for one, it may not happen for quite some time. :0) Bitcoin never does what everybody expects it to. I'm still long from $185 with a DCA under $6,500. I don't plan on getting off any of my position for quite awhile. Now that Grayscale, Square, and Paypal are buying more Bitcoin than are being mined each day it's just a matter of time before everybody that wants to sell has sold. I'm not one of them. When there is high demand and shrinking supply what happens to price? The rule book says the price has to keep going up until somebody is willing to sell. Again, I'm not one of those people yet. Much higher prices is where I have placed my bet and I'm sticking to it. :0) Good luck no matter how you play the game! BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin - If you don't know, say you don't knowWhen I lose track of what is going on and my chart gets blown up my fall back position is to climb to 10,000 feet and take another look down. It would appear that the market and (it's participants) are hell bent on getting back down to around $8,500 for whatever reason. Maybe it's because of the CME gap? Maybe it's because of the Stock to Flow ratio? Maybe it's because of the 20 Week Moving Average? (orange dotted line) Maybe its to get back to the base line of the upward Fib channel (baby blue dotted line) Maybe it's because of low liquidity? Maybe it's because it's Saturday and people have nothing better to do? Maybe it's all of the above? At any rate it doesn't matter. It is what it is as they say. I'm tired of getting blown out of my short term positions but I'm still bullish long term. The last time the 20 Week moving average crossed over the 40 week moving average the bull run went to $20K. I would expect the trend to continue this time as well so long as the averages are still respected to the upside. No matter what happens over the next few weeks and months I will always have my core long position going into the halving. I wouldn't miss that for all the short term trading opportunities in the world. 25 months from now the Stock to Flow ratio will be over $100K and there's something about my curiosity and greed that makes me want to stick around to see how that plays out. I'll trade a small amount of BTC when I can but my core holdings will not see the Exchange again until well after the halving. Depending on what is going on in the world at that time maybe not even then. So what are my short term predictions for Bitcoin? I don't know.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
5
Bitcoin Bitpay VISA cardI was just thinking..... I recently signed up for a Bitpay Visa Card. I got it the other day in the mail. It costs $9.95 to setup the card. There is also a Bitpay wallet app for your smartphone. The download is like any other. A few minutes to download, install, setup and you are done. It's actually pretty cool. You can download BTC from your other wallets to your Bitpay phone app and/or your Bitpay VISA card. As a test I moved $100 from my Bitcoin Wallet to my Bitpay phone app. Once I got my VISA card I moved $50 from my Bitpay phone app to my Bitpay VISA card and proceeded to spend it around town. Not a single failure. It worked everywhere I tried to use it. One of my swipes was at a coke machine and another at an ice cream truck. About as far away from the norm as you can get and it still worked. This is a great way to easily spend your BTC into the community. But here's the catch and what got me to thinking. When you load your VISA card with BTC what is actually happening is the BTC you move is being sold and the dollar equivalent is being loaded on your card. The BTC you load does not float with the market. The dollar amount is fixed the second you load it onto the card. OK Fine. Don't load huge amounts of BTC. Maybe just enough to get you through the weekend or to buy lunches and gas for the week. Easy peasy, no problem. Leave the bulk of your Bitcoin stash in your regular wallet to float up and down with the current market prices and only load some BTC to your card when prices are high. But... here's the rub. How does this work from VISA's perspective? What if you load $1000 in BTC on the first of the month and by the 15th of the month the BTC you loaded is only worth $750? Bitpay VISA has just taken a loss right? I don't think so and here is why. THEY KNOW Bitcoin will be worth FAR MORE in 6 to 12 months than the pittance in dollars they are putting on your card today. Right? I mean if they did not believe this with every fiber of their being they would never advance you cash against something they thought would tank and bankrupt them. NO. They know dam well that if you put a large sum on your VISA card today you are just screwing yourself for tomorrow while they make out like bandits. I suppose they could sell the BTC as soon as they bought it from you but I suspect they are banking it to sell latter. That's right. They give you $50 or $100 cash now from something they will sell in a year for $5,000 or $10,000. Their profit potential far exceeds any perceived risk they may be taking. They know it, and now YOU know it too. Do you get where I'm coming from? Just another reason to keep stacking those Sats. The big boys KNOW where this is all headed and they are setting up the mechanisms now to skim their piece of the pie off the top. We need to get as much of the pie as we can before they take it all. More food for thought...
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin - EVERYBODY wants the price to go lowerAnd that is why it probably won't. The Bulls that didn't get enough want the price lower so they can back up the truck and load up more Bitcoin. The Bears that got left behind at $3,200 want the price lower so they can say "I told you so" and finally get some Bitcoin at a decent price. Yep, EVERYBODY wants the price to go lower for their own greedy reasons. Yes, I said greedy. The underlying reason everybody wants to see lower Bitcoin prices is not because they think it will fail but because THEY WANT MORE OF IT! So..... what happens when everybody wants the same thing? The market tends to do the opposite. If my count is correct we just completed Wave 4 and are starting Wave 5 UP! That means we have all seen the cheaper prices for Bitcoin and many of us said "No thanks, I'll wait" To each his own I guess. This is all just my opinion of course. You do what you want. Good luck! BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
8
Bitcoin - A few possibilities....Good morning my fellow Bitcoinistas! I'm taking a long weekend and won't be back until next week so I thought I would post my current thoughts. As you know from my last post I think we are trying to complete a 5-3-5 Zig Zag to complete this complex correction. If true, waves 1 and 2 are complete. I've drawn what I believe to be two possibilities to finish the pattern. Keep in mind that wave 5 of either count could end at any time. It all depends on where Waves 3 and 4 end which has not been completely defined yet. The orange horizontal line at $9,100 is the 20 Week moving average and should act as support. I would not expect the price to stay below it for long. Also keep in mind that if my count is off it may be possible for wave 5 to end where the blue wave 3 is currently located on the chart at $9,100 which would also make sense. The bottom line is I think we are getting close to ending the overall correction. Good luck this weekend, see you next week! BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
8
Bitcoin and the Stock to Flow ModelGood morning my fellow Bitcoinistas! Yesterday sucked. We took a big hit. So what do I do when my hypothesis is wrong? I start developing a new hypothesis. I went back through my collection of Bitcoin information and reviewed the Stock to Flow model again. I wish I had paid more attention to it sooner. I could have put a few more Satoshi in my stack. To the point: The current Stock to Flow model indicates that a fair market price for Bitcoin, right now, this week, is about $8,300 - $8,800 Where is the price right now? About $8,425 as of this writing. What does this indicate according to the model? The market is pricing Bitcoin about right according to the Stock to Flow model. What can we conclude? Prices well below this area are very undervalued while prices well above this area, right now, would be considered over valued. So the main conclusion for me is that if your Dollar Cost Average (DCA) is currently BELOW $9K your hodl position is looking good. If your DCA is way over $9K you may want to take any current price opportunities to continue to average it down. My DCA is well below $5K so that is not an issue for me but I sill added a little more in this price range. If we dip into the $7Ks I will do the same as the prices then will be extremely undervalued according to the Stock to Flow model. Below is a link to what I am talking about. Take some time to really understand the details and descriptions and you will see that although the price took a big hit now, it will continue to rise going forward. Several months to a year after the next halving the minimum fair market Stock to Flow value is over $100K. (baby blue and purple lines) Now who doesn't want to stick around to see that? :0) Have a great day. BBS out. " digitalik.net "
COINBASE:BTCUSDLong
by BitcoinBearSlayer
4
Bitcoin - Still Bullish, nothing has changed....I keep looking at this channel and asking myself "What has changed?" The answer keeps coming back "Nothing" I added a few more Satoshi to my Hodl position at the bottom of the channel. Other than that, nothing has changed for me. Still buying and removing, buying and removing. I leave very little on the Exchanges for obvious reasons. If ever they want me to bring my BTC back to the exchange for trading the price will have to be multiples higher than where it is today. And when I say "multiples" I mean 6 figures plus and I'm not even kidding. Good Luck. BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin - A positive viewIt seems many have gone negative on Bitcoin with the recent plunge of the stock market. I've seen calls for $6K, $5K, Zero, etc. It happens EVERY TIME Bitcoin corrects. On this chart, however, I do see something a bit more positive. This is a 3 Days chart with a 30 bar moving average which is the equivalent of a Daily chart with a 90 day or 3 months moving average. If you follow the yellow line and compare it to the light blue moving average you will see that the price broke below the moving average around last September. Then around November it tested the average from the underside and got rejected falling back to the bottom dark blue trend line. Then in 2020 the price broke OVER the moving average and has just now come back down to test it from the top. As you can see, if this area around the moving average holds this would be a positive development for Bitcoin. I just wanted to point this out. You may now return to your previously scheduled FUD programming...... BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin and the multi-year TriangleThis is a 3 day Coinbase chart going all the way back to 2015. As you can see the price is currently inside a multi-year triangle pattern. This looks like a continuation pattern to me. What is a continuation pattern? Glad you asked. It just means that the pattern will most likely resolve to "continue" the previously established trend. With Bitcoin the previously established long-term multi-year trend has been bullish. Therefore this pattern should resolve North and continue the Bull run. This also makes sense considering we are now just two months away from the halving. This means the mining reward is cut in half and the inflation rate of Bitcoin drops down closer to that of Gold. By the next halving in 2024 Bitcoin with be the most scarce financial asset on the planet according to the Stock to Flow ratio. The bottom line? If you own some Bitcoin and have held on this long, it would be wise to at least see what prices look like at the end of this year. According to the stock to flow chart (not show here) by mid 2021 Bitcoin should be well on its way to $90K+ and that I have to hang around to see for myself! Good Luck! BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin breakout not too far away......This triangle is should be self explanatory. If the price does not fall out of the bottom and continue south we should bounce off of the lower trend line and break North soon. (Within days) This is a 4 hour chart so we are not talking that long before the breakout. Maybe by Monday or Tuesday of next week? It doesn't matter exactly when, I'm still long and will continue to be so for quite some time. Good luck everybody! BBS Out! :0)
COINBASE:BTCUSDLong
by BitcoinBearSlayer
2
Bitcoin - ABC correction ?I think it would actually be good to complete an ABC correction at this point. It would give all the indicators a chance to reset, fill the CME gap, and give us all a chance to back up the truck. :) You can see where the price broke and retested the yellow trend line and it would make since to continue down to either the 1.0 or 1.27 Fib. Of course Bitcoin does what it wants, when it wants. I already have a good long position but if the opportunity presents itself I will add more under $10K. Good luck! BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
2