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Bitcoinbearslayer

Bitcoin 20/40 Daily MA very BullishGood Morning my fellow Bicoinistas! For those of you who follow my posts you know I have been watching and posting on the Weekly progress of Bitcoin for some time. A major indicator on the weekly chart is the fact that Bitcoin made the 20/40 Week moving average cross on June 2, 2019 and the gap on that cross continues to expand and the bitcoin price continues to ride above both moving averages. This is a very bullish signal for Bitcoin. Well..... in this daily chart you will also see that Bitcoin is currently above the 20/40 Daily moving averages and the RSI is in position to give it plenty of room to run North before entering an "Overbought" condition again. Between the Daily and Weekly charts Bitcoin continues to look extremely Bullish to me. Since I don't trade every little dip or pullback on the lower time-frame charts you may have a difference of opinion. But hey, to each his own. Good luck out there! BBS out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin - The Last Stand - for now.....Hello my fellow Bitcoinistas! This fight has been epic. We take a few hundred, we give up a few hundred, back and forth, back and forth. A real fight. I call the post "The Last Time" because I think we are quickly approaching a major decision point. As you can see on this daily chart the price is being forced down toward the rising multi-year baby blue average that I have been watching for a long time. For this history of the Coinbase Exchange this line has proven to be upper resistance on multiple occasions in previous years and has only been broken to the upside TWICE. Once in 2017 when we ran to $20K and again recently. The Bears obviously do not want us to hold this line as evidenced by how hard they are fighting to break it. Even after they got poked in the butt they came back for more. A formidable opponent for sure. But I digress. I think this fight is going to resolve by the end of this week, Sunday, and certainly by close of business next Monday. We are just running out of room on the daily chart. One of these two line is going to get violated one way or the other. We could of course crab walk to the right at the apex and meander around for awhile more but I doubt it. People want resolution. Can we hold the line and break $8100 with conviction? Or, are we going to break the long held trend and seek lower opportunities? I'm still in the camp of holding the line. Why? It's just too clean and would further establish the trend. Something we can hang our hats on going forward. If it breaks, and we get multiple closes below the line then what? It back to a guessing game until something else solid materializes. My plan? If we hold the line and break out with volume I'm buying the breakout. If we fall off this cliff I'll wait for better prices later if I can get them. It is possible, I suppose, that we could pierce the line for a day or two and then roar back over it before the weekly close. The weekly chart would show a spike down, but the close would still be above the line. This would be my second best choice as apposed to not having the line violated again at all. The worst case in my opinion is to have a weekly close below the line. This would not bode well for near term prices and may give the Bears the confidence they need to keep hammering away at it. In the 2008 financial crisis I made a good chunk of change shorting the S&P futures on margin as well as shorting some banks with PUTs or direct shorts. I know the thrill of making money when everyone else is losing their shirt. Bitcoin, however, is NOT one of those instruments to be played with in that manner. When it breaks North, really breaks North, a lot of bear are going to get their faces ripped off. I do not want to be one of them. I do not believe Bitcoin is going to zero so there is not much meat on the bone to the downside for me. The upside however is unlimited. Literally the sky is the limit. I would never want to short against those odds, especially with leverage. But that's just me. At any rate, these are my current thoughts, do with them what you will. This is all just one person's opinion of what they see in the chart. Good luck! P.S. We could breakout one way or the other at any time. Sunday is just the maximum limit on how much time we may have. It could literally happen any time this week.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin Weekly Chart continues to point NorthHello my fellow Bitcoinistas! I had some bears to slay this weekend but I'm back now. As you can see on the zoomed in weekly chart everything I was expecting to happen has happened or is in the process of happening. The Baby blue trend line holds - Check We start this week green - Check The 20/40 week MA Cross becomes more pronounced - Check For these reasons, and many unlisted, I remain extremely bullish. I still expect this week to finish green and perhaps even engulf last week's red candle. Hang tough and good luck! P.S. After my fight with the bears the past few days my name was official changed this morning. :0)
COINBASE:BTCUSDLong
by BitcoinBearSlayer
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