goldbug1

goldbug1 Updated 

Seems like all those screaming for 60-100k now flipped to short and or buy the dip. So is this the time to buy the dip or are you simply being a Dip for Buying? Lots of momentum implies there is likely going to be a bounce as Dips start buying what they think is a Dip but it turns out to be a bull trap. The stock market is screaming risk off right now, but...

goldbug1

As Bitcoin pushes into the mid 50k area, I get question after question on what to invest into, should I buy Bitcoin now, what coin or stock is going to be the next 10 bagger, is Doge coin a good investment, all from those trying to get rich quick. Let me be painfully honest, most are going to die broke trying! We are now rolling into tax refund time, another...

goldbug1 Updated 

After taking a second swing trade on the 5th of February, our final target was hit last night at 48k. The question: Is this the end of the run or do we get another leg higher. Well that I do not have the answer to, but I am looking at some key levels in the interim. Whether this is completion of a 3rd wave of a broader 5th wave is not crystal clear here. ...

goldbug1

While FURUS continue to paint TV with chart art, using useless indicators and oscillators, many without any knowledge of what they imply, our focus was on a couple key order flow levels. Corrections are generally the most difficult times to trade as they are full of fake-outs as the market churns trading capital into Shredded Lettuce. Sticking to our investment...

goldbug1

As Bitcoin takes out the upper boundary of the current consolidation many may be thinking this is the next leg higher, but is it? Looking across TV, and all the fly by night Furus, it is clear that most are looking for that next leg higher. We are now back to the days of throwing Rockets on charts, titles with Moon in them, and all the Furus who were bearish at...

goldbug1

Quick update to the Bitcoin chart and what we are looking to do moving forward. Yes it may appear bearish, yes we are in a difficult consolidation, regarding trading, but order flow guides us not the chart art and those that are sucked in by its beauty. Two days ago, price action was telling that buyers were likely drying up, so we took a trim on our long term...

goldbug1

Just a quick update. No RSI's not MA's not using any crap indicators so many fill up their "Chart Art" with. Just simple order flow analysis here. Bitcoin continues to show buyers stepping in and we have another long setup, where I have an interim target of 45-50k, however a few caveats to go with. The 42k level is one to watch for a bullish fake-out. Looking...

goldbug1 Updated 

One of the reasons most investors (I'm talking long term investors 3-5-10 years out) lose money is they have no Plan, no Strategy, and no boundaries. Many that start out with a plan and strategy get emotional during periods of volatility, such as this weekend, and tend to sell out at the wrong time, only to buy back at higher prices resulting in portfolio...

goldbug1

Over the past two months have received many questions on where or when to buy Bitcoin. Some from those that are familiar with the crypto space, others completely new and never owned a crypto in their life. The real question is not when or where to buy, but what are you buying it for? The most popular response was they are looking for a hedge against the...

goldbug1 Updated 

Simply amazed at how many XRP fans are having their hopes and dreams crushed. Yes fill out that application and join the likes of Tron Holders who had champagne wishes and are now having Freddy Kruger nightmares. At least you have a closet full of coins in the event you need to wire transfer on the Ripple network to your account in South Africa for the next 100...

goldbug1

As Bitcoin pushes an ATH I am curious as to where all the Perma-Bears went? Guess they are asking Santa for a time machine to go back and buy Bitcoin. None the less as Bitcoin confirms bullish action above 20k the question is where do we go from here. In the immortal words of Oogway "I don't know". However technical analysis and market sentiment can provide...

goldbug1

Nice tight consolidation pushing into a major inflection point around 20k so are we setting up for a break-out to 24k or a fake-out to 16k? Lingering at resistance is often a sign of strength, since selling pressure is absorbed by willing buyers looking to buy any dip. This is what creates all the patterns people focus on with no concept of what is going on...

goldbug1

Bitcoin has been consolidating over the past week and is setting up for a break higher, but do not fall for the Fake Gurus pushing this hype. This is an area to take a little profit from lower levels, not to add more risk. From a swing trade perspective the 16,400 is an initial target level, but risk is measured off the low end of the range, a more aggressive...

goldbug1

Palantir is a recent add to both our portfolio and we also took some Long Calls looking for it to breakout of resistance at $11.00. Need to see follow through, but our initial target is $13.50. This was a recent IPO and though these are risky trades, when they pay off, they pay well, so after letting the dust settle after the IPO we decided to take a position...

goldbug1 Updated 

All the hype about 100k or 1 million dollar Bitcoin is being overshadowed by the fact it is unlikely to be a straight path. With Bitcoin setting up to break higher, it is likely to attract a lot of Bitcoin band wagoners, you know those that only a month ago were calling for 6k. Most participants in the market are reactionary. They react to this news, that news,...

goldbug1

Our Trade of the Week, issued on Tuesday, is doing well into a red tape overall. Nice momentum here, but with the overall market looking sloppy, have to be nimble in the event selling pressure picks up in the market. We get a bearish pinbar at the close of the day, after hitting T1, we may opt to close out early, taking the money and running.

goldbug1

Patience is key in any market and Bitcoin is no exception. The hard part is keeping your emotions in place and understanding time frame applicable to your strategy. For swing trading there is a short continuation setup that triggered but we do not short this market so what we are looking for is levels to add for a broader move (position trade or investing) after...

goldbug1

As we mentioned a couple weeks ago, and reiterated this week, this is not a bearish market, quite the contrary it is still bullish and there is room to run in both stocks, Bitcoin and Commodities. Over the past few weeks we have heard from expert after expert on how overbought this market is, and pessimism is everywhere as the market defies economic gravity and...