Bitcoinbearslayer
Bitcoin - ABC continues to developMy wave points my not be exact hits, but I believe the overall concept is. We need to finish the C wave of this ABC before we move higher. The move up will then determine if price will finally break out of the top of this flag\channel or reverse again to continue the consolidation. This is going to take a while longer IMO.
Bitcoin - Is it time to take a break?If the bulls are not going to break higher than the 50% Fib right now, then something like this could play out next. Just posting this chart to see if it plays out.
Bitcoin - Off to the races !If Bitcoin can break 11,080 with conviction we should be off to the races!
Stay tuned.....
BBS out.
Bitcoin - A 30 minute view of where we may be going...Chart speaks for itself. If this 5 wave count is correct we should move higher soon. If we significantly exceed the 38 Fib to the downside then this is another ABC correction and prices are going lower. There is a Low risk long play off the 38 fib line IMO
BBS out.
P.S. Those following my posts had this count over 3 hours ago in a previous post so if this works out as drawn don't say it was a last minute call after the fact. If it doesn't work out just ignore this post and act like you never saw it. :0)
Bitcoin - Wave 3 or C ?For those of you following my posts you know there was a lot of concern about the last major wave holding around $9K. Not only did it hold, it turned for wave 3 and a $1K plus jump. The question right now is did we just finish Wave 3 or was that the end of a Wave C ?
If the prices turns here at the .23 Fib or more likely the .38 Fib and goes North again that is a solid confirmation the prior move was a Wave 3, and this move down is Wave 4, and we still have wave 5 North to go.
If prices go down from here then what we thought was is a 12345 move (shown on the chart in blue) is actually an ABC move and we just finished wave C and prices are coming back down.
I do not think this is the case. I am very confident we are seeing wave 4 right now and heading higher later today. After wave 5 is complete, we wills see some sort of ABC correction at that point. That's not a guarantee, just my personal opinion based on the FIbs and the previous price action. So the short answer? We may see prices dip to around $10.1K this morning to complete the end of wave 4 and then go up for Wave 5. That is my best fortune telling prediction from what I currently see on the chart.
I gotta go make the doughnuts, hope this helps.
Talk to you later.
BBS out.
Bitcoin - $1K is nothing......How fast does news travel today? The speed of light? How fast do Internet memes get around? minutes, hours, days, weeks? Not long at all. How long does it take a viral YouTube video to spread around the world? No time at all. How long does it take for a black swan event to sweep through an already shaky financial system? Does 2008 come to mind?
Now that the US Congress has exposed Libra as a "Shitcoin" and Bitcoin as the "Real Deal" how long before more People, Corporations, Towns, Cities, States and Governments start buying up Bitcoin as a lifeboat for what is to come? Not long in my opinion and I believe it will only accelerate once it starts. Perhaps it started today.
If you evenly divide all of the 21 Million Bitcoins that can ever be mined among the current world population we are only talking about 0.00300000 Bitcoin each. About 300 thousand Satoshi max. And that is ONLY if they are evenly distributed to every human on earth. We know they won't because all of the humans alive 20 years from now don't even exist today. Think about that for a minute. There will be people in the future that can only own Satoshi by working for them. They can't just buy them up today like you can.
So again I say that $1K in 30 minutes is nothing. When the real feeding frenzy starts we may be talking $5K, $10K, $20K, or more overnight. You don't think so? The people in Venezuela probably didn't think so either. Or those in Zimbabwe when their money failed. It is the fate of every fiat currency ever printed. Devalue, hyper-inflate, disappear. Rinse and repeat. So what happens to real money when the fake money fails? It goes to the moon.
The real bag holders, in my opinion, are not the ones left holding Satoshi when the music stops but rather those holding all of their wealth in one of many other fiat currencies around the world. Our money should NOT be based on our ability to work our asses off for 40+ years so we can pay taxes on all the debts our governments rack up in our name and then die broke. It shouldn't be that way. And I will tell you this as sure as you are reading this post, it is not going to happen to me if I have anything at all to say about it! I refuse to be a debt slave of the State. The sooner I can break free the better! And it starts with having an independent supply of real money that is not based on their wasteful spending and other political bullshit!!! I don't mind paying my share for public services, but limitless printing and spending of the fiat on my behalf has got to stop. If there were no fiat currencies in this world there would be no wars because governments would actually have to ask the people if they want to fight each other and pay for it along the way. Their answer would be a resounding NO!
And that, ladies and gentlemen, is my dose of hopium and fomo for the day! :0)
BBS out.
P.S. I know, I know, "hope is not an investments strategy" blah, blah, blah, (insert old sage trading advice here) whatever.
You get my point. Stack those Sats while the sun is still shinning on you.
Bitcoin - It's gotta hold.....We never actually touched the Fib extension yesterday. We got close, but didn't actually touch it just under $9K. Is this their attempt to rectify this problem and then continue higher? Nobody can say until we get there. I can say this with pretty good confidence, if we break $8.9K or so we are very likely to continue down to the next fib level around ($7.8K) which would be the maximum allowed for this to be a C wave of the larger ABC.
After all the government recognition of Bitcoin recently I'm not going anywhere. I've got enough Satoshi now to start my own city if needed or at least fund my own town so FUG EM! If they want more Bitcoin they will have to buy it from somebody else. I've already started moving mine off the Exchange.
Here's a 15 minute view of what I would like to see happen. What I'd like, and what I get, however, are not always the same.....
Bitcoin - A correction to the correctionA lot of technical damage has been done recently. RSI, MACD, broken trend lines, upper support levels, etc. indicating that the trend is changing short term. Further downside is certainly possible and may even be probable, however not without a correction to the correction. Nothing goes straight up or straight down forever. BTC is reaching a key point of support and Fib level previously mentioned in other posts. A significant bounce would be expected at the end of Wave C and Wave 5 anywhere between $8.8 - $9.1K (1.272 Fib area) After that counter-rally it will be time to re-evaluate to see if the major correction is over, or if this is just a breather before further down side. ($7K-8K range) A 40% total correction is down around the 1.618 Fib on this chart for a percentage reference. Also for a point of reference, those two blue boxes are exactly the same height showing the symmetry of this latest move. And finally, the highlighted channel I put on the chart looks very much like the head of an extremely LARGE bull flag does in not? (something to keep in mind) Long term I am still extremely bullish, short term we still have to feed the bears a little poisoned meat to occupy them so we can circle around the path and continue up this mountain. :0)
Good luck out there
BBS out
Bitcoin - 2 Options to finish this moveI'm short on time but wanted to post what I am watching today. My buy orders are in place for the Fib levels noted. I still think we will come down to at least the first level before making any kind of significant run north again but could also come down to the second level as well. These are two price areas I think will be acted on heavily if they are reached.
Good luck!
Bitcoin - The last 3 options - Chose wisely!We are obvious on the last leg down and my best estimates at this point is that we have 3 options.
Option 1 - If this is a mild ABC correction the price will turn around $9,640 At this fib level we know the ABC is finished and we continue to move up.
Option 2 - If this is a little deeper ABC correction the price will turn around $9,022 At this fib level we know the ABC is finished and we continue to move up.
Option 3 - If this is NOT an ABC but a 5 Wave move down the price will continue to around $8,236 before turning north again. However this is NOT the climb out. It would just be the completion of Wave 3 down followed by Wave 4 up. Once wave 4 up is finished the price could continue down as low as the $7,200 area or finish anytime before hitting that mark.
In conclusion, you won't know if this is an ABC until this leg down finishes. At the higher Fibs noted on the chart it is an ABC if not we are in a 5 Wave move down.
Scary times my friends. There will be a lot of volatility and a lot of uncertainty.
My plan is to start accumulating under $10K and continue adding a little at a time until we hit this bottom where ever that may be.
Good luck and batten down the hatches it's going to be a bumpy ride!
P.S. I have plotted the various possibilities on the chart. Two possible ABC moves and one Wave 5 move. Obviously only one of them may be correct in the end. (or none)
Bitcoin - Looking for a double top around $12K or lessI'm not convinced we will break $12K. This move looks corrective rather than impulsive. If I were long, which I am not, I'd make sure I have a stop to protect my profits. If this move fails and turns south the next target is around $10K or a bit lower. We won't know for sure until we get there... It's time to shit or get of the pot sort of speak.
Bitcoin - Get ready for a decision.Get ready for a decision. A long attempt off the bottom of the triangle with a tight stop may be worth the risk if this thing turns to go higher. If we fall out of the bottom of the triangle any kind of touch back to the bottom line would be a good short entry with a stop back inside the triangle.
No matter how you play it, good luck and protect yourself.
Bitcoin - Taking a breakI don't get paid for posting here so it really is a net loss for my time. In other words, there is no benefit for the time invested. I have no tip jar. I have no bullshit courses to sell. I have no YouTube Channel to monetize etc. So, 7 or 8 up votes out of 250+ views is just not a worthwhile endeavor. In other words, there absolutely no personal satisfaction whatsoever. No financial satisfaction + no personal satisfaction = a big-fucking waste of my time.
Good luck in however you play this market. I'm taking a break and focusing on things that make me money or bring me personal enjoyment. Posting here does neither
BBS out.
Bitcoin - ABC follwed by ABC ??? If so, better prices ahead.If this is another valid ABC correction that just finished instead of Wave 1,2, and the start of Wave 3 then we should see better prices going forward IMO. Still long my core position but took my trading profits around the top of what may be the completion of Wave C. Of course this is just one person's opinion. Many are still calling for $14K or higher right now. I don't know. This is what I see. The price could still reach out to the 1.272 and this pattern is still valid. All it means is that I jumped ship a little earlier than necessary. I do that sometimes. :0) I would also add that if prices breach well into the top of Wave A then this would be an additional confirmation that lower prices are to follow. We've come close, but not yet...
Good luck!
Bitcoin - Gotta take profit at some point....I still have my core long position, but went ahead and took my trading profit at the 78.6 Fib. Can we go higher? Of course. But we can also pullback at any time. It's hard to say exactly which will happen first so I went ahead and put the money in my pocket. Like they say; "Nobody ever went broke taking a profit"
No matter how you play it, good luck!
Bitcoin- It may be the life raft we all needHello my fellow Bitcoinistas,
No fancy Sunday chart today. I want to put out something that may be more important. IMO buying bitcoin right now may be your best bet move going forward.
Why?
1. The long term yield curves have inverted, AGAIN. Last time 2008 right before the last financial crisis. They pay more short term than long term. Think about it.
2 Deutsche Bank is failing. Today they announced layoffs of 18K+ people over the next couple years. Translation? It may be sooner. They have trillions in derivatives.
3. The entire world in NECK DEEP in dept
4. Stock Markets at all time highs
5 Precious metals on the rise
6. Flight to safety underway for those who are paying attention
7. Fiats failing around the world
8. "Buy ins" are on the table this time. What does that mean? The banks/government take your deposits to cover their debts
10. Socialism on the rise. "We can't make it so we'll just take it" mentality of the masses.
11. Nothing resolved since the last financial crisis. Just more crap under the carpets all around the world
12. The chickens are coming home to roost
We are in the early stages of something really ugly. Cover your ass the best you can and always hold at least a few million Satoshi or more if you can. It may be all you have to spend if the SHTF.
Sorry for the Red Pill, but they can't pump this shit forever. Something is going to break.
Good luck!
BBS out!
Bitcoin - 3 Hour Coinbase viewMy core position is still long, but the remaining part of my account is in cash. So long as Bitcoin will not make up its mind, neither will I.
Bitcoin Channel and the Bull Trap ?Is this channel valid and is this a bull trap inside it? Only time will tell....
$10,600 has got to hold to keep this run up valid and we have to break out of the channel and stay out.
I still have my base long position and a pile of cash. Just waiting for the right opportunity to add to my longs.
Bitcoin's - Independence Day!Just a quick observation. It may be possible for the correction to end sooner than expected. Another perfect opportunity is on July 5th right after the July 4th Holiday to not only fill the CME Gap but also bounce off another closely watched trendline.
See target area.
So, to upgrade my weekly update it is very possible for this correction to finish as soon as the end of next week or drag out for a couple weeks as previously stated. It really just depends on how ambitious the market decides to get.
Take away? Be ready for anything in the $8,000-$8,500 range. I firmly believe any longs picked up in that area will be well rewarded later this year. If we go down there, those will be prices we probably NEVER see again. EVER
Good Luck
BBS out!
Bitcoin Moon Ship Temporary Diversion - Returning to launch pad."Ladies and Gentlemen, somebody on board forgot to pack their moon boots. We've been asked to return to the launch pad to retrieve them. Your continued patience is appreciated. Please extinguish all smoking materials and return your tray tables to the stowed positions for reentry. Thank you"
If you read my weekly update you already know I am calling for lower prices based various factors. In addition the daily MACD, RSI, STOCHs, etc. need to come off over sold to add additional fuel to the next rally. Hopefully this chart is self explanatory. I believe we may grind our way down to close the CME Gap, test the 20 Week MA, and use the old launch pad for our next leg up into outer space.
If all this is true, it may be our last opportunity to add to our BTC payload at these prices. Obviously there will be good long and short opportunities along the way but my game is more to wait for the next turn before getting involved again on the long side. When we touch down and all the indicators turn North again, that is when I will be looking to add to my long term long position.
Good luck!
P.S. The top of that orange triangle and the orange line are supposed to be level with one another. Something happened when I saved the chart. The orange line is the top of the triangle I am watching. I think anywhere down past the CME GAP line is a good place to start getting long again. Just my opinion of course.
Bitcoin - Weekly update for Sunday June 30th 2019Good morning my fellow Bitcoinistas!
I know the weekly close is over 12 hours away but I wanted to go ahead and put out my weekly update so you have the information in advance. I'm going to try to keep this short, to the point, and just hit the high spots. I will add a link to last week's update for anybody not following my work that wants to see the previous updates and how deadly accurate they were. :0)
I think we close this week with a green candle, but it will be setting up next week for possibly a red candle. It seems we have exhausted our momentum for the time being and some technical issues need to be addressed before we go racing higher. To whit, there is still a CME Gap down around $8500 that is begging to get filled. Also, the 20 week Moving Average (orange dotted line) is begging for a test for support. The baby blue zero line of the Fib-Channel may need to prove its support one more time as well. Everyone is screaming to go higher, therefore it may be time for a pullback (psychology) etc. etc. In short, the market needs to take a break to satisfy multiple issues.
The good news? I don't think the pullback will last more than a few weeks if that long. It is only 3 weeks over to the 20 MA line, $8500 Gap, and baby blue trend line. A perfect trifecta! Does it have to take that long? No. We could have a flash crash today, next week, or anytime between now and the targets mentioned. It is not so important as to when the gap is filled, when the 20 MA is tested again, etc. Its just a matter that these things do happen.
For those of you following my posts you know I sold about 40% of my long position the last couple days to pay off the rest of the other 60% of my long position. My trip to the moon is currently FREE and I now have the cash to buy more carry-on luggage if the price is right. :0)
At any rate, let me wrap this up. I hope I didn't miss anything. If you study this chart for a minute I think you will see why we are going to pullback a bit. The long wick type candle forming this week, how it pierced the 0.236 Fib line and retreated, the gap that needs to be filled, support that needs to be retested. THE 40% CORRECTION everybody says we need, etc. All these conditions get met if we go down to at least the $8500 area. If we do see those prices, I don't think we will stay down there very long. Have your orders ready if you want to add more BTC because it may be the last good opportunity under $10K. (In your life time) I firmly believe this. Once these technical issues are satisfied the price will take off again. If people miss it they will lament about how they woulda, coulda, shoulda, backed up the truck on this next dip. But I say you're either ready or you're not. You either have a plan or you don't. For those who don't like to trade, now would be a good time to setup a dollar cost average plan. It's still a plan. Just buy x dollars per week, month, etc. and walk away. It doesn't get any easier than that and the future rewards could be tremendous IMO. The potential gains a year from now are ridiculous!
At any rate, these are just my thoughts and opinions, not advice. Everything could play out as I expect or none of it could even come close. Do your own research and study the charts, news, technical indicators, etc. etc. so you can make an informed decision on what steps you want to take next.
No matter how you play this crazy game I wish you the best of luck.
BBS out!
