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Bitcoinbearslayer

Bitcoin - Raising Cash!Hello my fellow Bitcoinistas! For those of you who follow my work you know that I have been long for a very long time. All the way from the bottom around $3200 and have added longs to my position at strategic points on the way up. Occasionally I have scalped a few bucks here and there but mainly remained long. I am 100% long at the moment after scalping a few Satoshi earlier this morning. That being said, even I, the Bitcoin Bear Slayer, realize prices will eventually take a break, make a pullback etc. So, being the greedy little bastard that I am I plan to take advantage of that foreknowledge if I can. :0) This is not financial or trading advice, I'm just sharing my thoughts and opinions about what I am doing and why. I think the end of wave 5 will happen around the .618 Fib line. Some are calling for the .786 or higher. Who knows. All I know is the .618 always seems to get some action. So, what I have done is setup a sell order ladder for very small chunks of Satoshi starting at the .618 and incrementing up $100 bucks each rung until I'm done. Then, if things turn down for a bit as planed I will buy it all back at lower prices. A straight up trade for a handful of Satoshi. No leverage, no margin, no nothing. Just sell some now, buy it back later. I will remain 90-95% long at all times. This is just a small scalp attempt for some additional Satoshi in my pile. I also plan to raise some cash at the end of the big wave 5 wherever that may be. When this thing finally does correct with some sort of ABC retrace it would be good to have some cash free to take advantage of the buying opportunity presented. Many say "never commit your entire account to one trade" etc. Well, for me, the ONLY purpose of this particular account is to buy and sell Bitcoin. That's it. It is intended to be used in the manner in which I am using it. Your situation may be different. Again, not advice, just pointing out the obvious. "Having cash available for the next big dip is always a good idea" When and where people raise cash along the way it up to them of course. This is just how I plan to do it if I can. Good Luck! BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin - If you made me do itIf you forced me to do an Elliot Wave count I think it might look something like this on the weekly chart. I still don't think we are going to get the crazy 30-40% pullback the bears are calling for right now but maybe we will see a decent retrace when the ABC correction follows the blue wave 5. Does that mean I'm going to sell out? Nope! It just means I might sell a few Satoshi at the top of the blue Wave 3 and buy them back at the bottom of the blue wave 4 and continue to hodl. At this point I'll never be less than 90-95% long BTC but I might play around with 5-10% just for fun. All of this of course is just one person's opinion. Your mileage may vary.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
The Bitcoin ICO is almost complete!That's right, after 10 years of selling Bitcoin the Initial Coin Offering ( ICO ) is almost complete. You have had a little over 10 years to hodle together a long position before worldwide adoption and usage. From the days of buying fractions of Bitcoin off eBay to buying pizza with BTC, to multiple Bitcoin Exchanges worldwide, to Futures markets, to Mega-Corp Financial involvement, to now Facebook jumping in. And this is just the beginning...… Soon you will no longer have the luxury of bickering back and forth with your trading buddies while you watch the price of Bitcoin gently flicker back and forth between highs and lows, this fib and that fib, this pattern to that pattern, etc. etc. etc. NO! Soon you will be competing with every know-it-all teenager from around the world with an Internet connection, a Facebook account, and an allowance! LOL The charts will start doing things YOU NEVER COULD IMAGINE. :0) Until..... Bitcoin reaches several Trillion in market cap and settles down as the KING on top of the Crypto Hill. Not too long from now you will look back at these gentle days of Bitcoin trading and lament "Ah, The Good Ol' Days" Did you take full advantage of this ICO or are you still waiting for BTC $1,200 ?
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin - Weekly update for Sunday June 23, 2019Hello my fellow Bitcoinistas! The week was a heck of a ride was it not? I know we still have a couple hours to go before this week's candle official closes but I'm going to go ahead and call this a green week. lol. For those of you following my work you already know this chart pretty good. For those that don't you will notice that after the previous breakout (yellow left) Bitcoin experienced SEVERAL weeks of bullish price increases before taking a break, then resumed again, and again, and again until finally topping out around $20K. We appear to be in the same pattern. Breakout, touch-back, red week, engulfed by green week, followed by many green weeks to follow. You can of course short this if you want, but I believe those still calling for $6K and especially $3K are just smoking crack or some other illegal substance in my opinion. Can you make money on the short side too? Sure you can if you are a friggin trading ninja and are well skilled at snatching raw chicken out of the mouths of alligators. But go ahead, try your luck. You may be the ONE. :0) Why fight the trend? Look at the 20/40 weekly moving average cross on the right of the chart. It crossed on June 2nd and just keeps expanding. To get those averages to uncross right now somebody would have to crack Bitcoin and ruin it for everybody forever. Really, it would take a complete failure of Bitcoin to get prices to come back down that far right now and uncross those averages. Look at the same averages on the left of the chart. Look at how long they held up under the last bull run. It takes a lot and a long time to uncross these averages once they cross over bullish. The top of the 20 week MA, right now, is about $6K, just to touch it. Do people really think we are going to undo all the progress of the past few weeks in just a few hours, days, weeks, etc. and break below $6K. Really? Again, it just tells me that crack is cheap right now and all the Bears are smoking it. We may not hit $20K next week but we ain't hitting $6K either. The odds and averages say we are going higher long term not lower so don't buy the BS. What is driving this? For me it is what is has always been. The scarcity and security of Bitcoin as a store of value. Like physical gold, a place to park your savings and wealth so that it does not loose purchasing power over time. Has anybody that bought gold or BTC lost their purchasing power from 10 years ago? I don't think so. If anything it has increased tremendously, especially for BTC. This is what people want in sound money. Limited supply, no government control, no unlimited printing, secure, easily stored, easily divided, easily transported, easily transferred, and cannot be counterfeit. Bitcoin has ALL the benefits of gold and several benefits that gold does not have. You can't make a Gold watch with Bitcoin, but you sure can buy a very nice gold watch with Bitcoin. Rolex anyone? :0) What else is driving Bitcoin right now? The financial industry, Facebook, and the public awareness that brings. In short, the Facebook news about Libra is a good thing for Bitcoin. It validates the idea of crypto and brings awareness to those sitting on the fence. The big difference is that Libra will be tied to fiat currency value and other debt instruments. All the crap that is NOT associated with Bitcoin. People argue "But Libra will be stable" That may be true. Libra may achieve the goal of always being worth about 1 dollar or 1 whatever the unit may be. Here's the rub. Over time whatever cost you 1 Libra today may cost you 10 or 100 Libra later. It will lose purchasing power over time just like all the crap it is supposed to represent. How is Bitcoin different? It is actually a form of real MONEY, not just a currency. The value of Bitcoin when compared to all other currencies will continue to rise in those units as those units continue to race towards zero. All fiat currencies eventually get reset and go to zero. History is littered with dead currencies, not money, currencies. We have been taught that green toilet paper is "money" and it is NOT. It is fiat currency printed by the government in unlimited quantities and dilutes all those green pieces of toilet paper that were printed before them. We all need to recognize the difference between what is sound money and what is just a currency. When you can figure out the distinctions you will be in a much better frame of mind as to were to invest your labor. At any rate, that is my rant for this week. I'm still bullish on Bitcoin and plan to be so for quite some time. The halving is coming up next year and the projected stock to flow ratio puts BTC at no less than $60K at that time. Is that a guarantee? We won't know until we see it. Nothing is a guaranteed in life. Everything is a risk. But for me, being long on Bitcoin is a risk I am willing to take. Especially when I compare it to all the other options available. Gold, silver, and Bitcoin, the only real money I am currently aware of. I said "money" not assets, currency, valuables, etc. I said money. I hope this week treated you right and you put many more more Satoshis in your pile. If you were a Bear, sorry about your luck. For the right price you can come collect your skins. They are on the floor in front of my fireplace right now but I have more than I need. Please come buy them back, I'm trying to get rid of them. :0) BBS out! Oh yeah, I almost forgot. If you like these updates and feel they are worthy of a thumbs up I would certainly appreciate it? Thanks in advance.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
4
Bitcoin Shorts - FINALLY!If I am reading this correctly this is the first time since $3,200 that the Bitcoin Shorts chart is actually going in the OPPOSITE direction as the price of Bitcoin. It did not start doing this until AFTER breaking $10K. Before $10K, the short positions would increase as the price of Bitcoin increased. It has been doing this since about $3,200. Anybody following my posts already knew I've been watching this and found it to be very alarming. It just doesn't make sense that people would continue to short into a parabolic rise, but they did. Like I said if I am readying this right they can either cover or get liquidated. Please tell the last bear out of the cave to turn of the lights. I'll be waiting out front. BBS out!
BITFINEX:BTCUSDSHORTSLong
by BitcoinBearSlayer
ATTENTION ALL BITCOINISTAS!Good morning my fellow Bitcoinistas! I have something to say that I think is important and may be helpful to the young people and new traders on this platform. For all you crusty old life-long "traders" this probably won't mean squat to you. I'm sure you've seen it all before so please disregard. But many of you new people are here to trade crypto right? Why? To put more dollars in your accounts? Why? So you can buy more stuff, do more things, or retire early? Right? Or something to that affect? There is a reason you are here and it has to do with putting more dollars in your pocket. Am I close? Well, the world of money is changing before our eyes and I think we should all try to understand it and get ahead of the curve. First off a very BRIEF explanation of what money is or is not. Most of us grew up believing that the Dollar, Euro, Yen, etc. etc. etc. is "money". These are NOT money. They are Fiat Currencies issued by the governments of the world. We use them because they dictate that we use them to pay bills and settle debts. Gold, Silver, and now Bitcoin, is Real Money. Bitcoin for the past decade and Gold and Silver for the past couple thousand years. What is the difference between Money and a Currency? The purchasing power of a currency goes down the longer you hold it. Since 1913 the US Dollar will now buy you about 4 cents of what you could have bought back then when it was first issued. Money, on the other hand, increases your purchasing power over time whereas fiat currency decreases your purchasing power over time. It's really that simple. That is why a 1 ounce silver dollar today does not sell for 1 paper dollar. The money, in this case the silver, retained it's purchasing power and the paper or digital dollar did not. So what is Bitcoin? Money or a Currency? The answer is MONEY. You can, however, use it as a currency too if you want. Or you can use it to purchase other currencies you may need to complete a transaction. No? Then answer this question. Which will buy you more TODAY? The $1000 paper dollars you hid in your sock drawer 10 years ago or the $1000 dollars worth of Bitcoin you bought 10 years ago? We all know the answer. And what do you think $1000 dollars worth of Bitcoin today will be able to buy you 5-10 years from now verses hiding the same $1000 dollars in your sock drawer? The answer will be the same. A lot, lot more! So armed with this knowledge I have to ask why are people still trying to flip in and out of Bitcoin in order to get a few more hundred or thousands of dollars to put in their sock drawer when all they have to do is buy and sit on the Bitcoin and wait? Many say "I do it so I can then get more Bitcoin". That's a fantastic goal, but I suspect for every 1 person that achieves that goal there are 40 or 50 that don't. Not only do they not achieve the goal, they lose most or all of the dollars they started with. And why do we do it? Every fiat currency throughout the history of mankind has, or will, go to zero. It is inevitable. So why do we all chase after it and try to accumulate more of it? Especially now that the dollar only buys us about 4 cents of what it use to? It's a futile battle but we all do it. Years of conditioning I suppose and a piss poor educational system. It's almost like they want to keep us all ignorant of what is REAL money. Hmmmm????? By design perhaps? At any rate you have all probably heard of Facebook and the new Libra coin they are going to launch soon. This is not MONEY. It is another digital currency based on a basket of failing fiat currencies and debt instruments from around the world. It may be a stable coin, but is will eventually go the same route as all the fiat currencies it is supposed to represent. The only good I see from this move is that it will introduce a couple Billion people to the world of crypto and things should start getting very exciting very soon. Just look what Bitcoin has achieved over the past decade when virtually NOBODY knew about it or what it was. Now fast forward a few years..... This will be epic. Plus Facebook has partnered with companies like Coinbase for this project. What does that mean? Billions of people will be able to easily slide in and out of Libra, Bitcoin, or whatever other crypo project interests them. Yes, the only good thing I see of this is that it will awaken the masses to crypto. So are you in or out before this happens? A good question to ask yourself. So again, if you owned $100 or $1000 dollars worth of Bitcoin today, how much Libra do you think you could buy in 5 or 10 years? I don't know the answer but I think it will be a hell of a lot. How many of those 3 or 4 cent dollars do you think you can buy in 5 or 10 years with Bitcoin? A hell of a lot. As history has already shown us. Do with this rant what you will, but for me the answer is to hodl Bitcoin instead of dollars and Hodl Bitcoin instead of all the various "Me-too" Alt-coins that are probably going to zero between now and when Facebook launches Libra. Many will not be needed and just don't do anything Libra can't do and they don't already have 2+ Billion people using their platform worldwide. For any similar alt-coin to survive they have a hell of a lot of catching up to do. I just don't see it for many of them. Why did I write all this? Because I think there many of you about to flip out of Bitcoin for a quick (depreciating buck) right before the next moonshot. I truly believe that once this snowball gets rolling nobody will be able to stop it and you could very easily wake up one morning to a $10K jump in Bitcoin following the very evening you just sold out. You will hate life at that point. Nobody should be hating life. It's too short as it is. Does all this sound like nothing but FOMO? I'm sure it does, but my point here was not to try to scare you but to educate you so you can come to a logical conclusion of where this world is headed and how to get out in front of the train rather than get run over by it. Bitcoin could also drop to $8K tomorrow or lower, but if this gets going like I think it will the bullish acceleration will be epic. When this thing hits, we will all look back at the $5K-$10K days of Bitcoin and say "Yeah, I was there, knee-deep right in the middle of it" while others say "Yeah, I thought about it....." But on the opposite side of the coin I could also be wrong. I am absolutely not wrong about what money is vs what is a currency but I could certainly be wrong about when it happens or how fast it happens. So what? I'll take the chance and wait. We all know that we should try to invest wisely and only risk what is affordable to lose. But to invest wisely you have to have good information so get out there and get all the information you can digest and then make an informed decision. Finally, we've all heard it before. "This is not investment or trading advice this is just one person's option of the market" do with it what you will. Good luck to all and I hope the best works out no matter which way you decide to play this game. BBS out! P.S. this chart doesn't mean anything. It is just that last thing on my screen before making this post.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin - LAST CALL before $10K ?IF this triangle is valid there should be one more leg down to the bottom of the triangle (Point D) and then prices should climb back out of the top. Is this the setup for $10K plus? Could be. Problem is, I don't know exactly where the bottom of the triangle will hit. We can guess but it's only a guess. If one were to trade this they might try waiting for the break out of the top with a stop back inside the triangle to limit their risk. Or, for the more aggressive, they might go long at what they believe to be the bottom of the triangle and put a stop below the triangle. Of course Bitcoin seems to love eating up stops so it's a tricky game. I'm already long so I won't be playing this setup at all. I'm just posting to see what it does going forward. Is this the "Last Call" before Bitcoin shoots for $10K? Or are we due for more pull back? Anything is possible in crypto-land. No matter how you play the game, I wish you all the best of luck. BBS out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Bitcoin - Weekly update for Sunday June 16th 2019Hello my fellow Bitcoinistas! We still have a several hours left in this week but I'm going to go ahead and post my weekly update for Bitcoin. For those of you following my work you are already very familiar with this chart. You know when we hit bottom. You know when we broke out of the large cup and handle. And you know when the 20/40 weekly MA crossed. You also know that in last week's update I was calling for a green candle this week that would entirely engulf the red candle of last week. Well, I'm going to go ahead and say that's how this week is going to end. Unless they can crash the price in the next 7 hours or so this week is going to finish green and engulf last week's candle as predicted. What does this mean? I think it means you need to put on your space suit and your helmet, hook up your oxygen, and get ready for the launch sequence. Let's start the pre-flight check-list now: 1. Bitcoin broke above the multi-week trend-line - Check! 2. Bitcoin came back to the trend-line for a touch-back - Check! 3. The touch-back printed a red weekly candle - Check! 4. The red weekly candle was engulfed by a green weekly candle - Check! 5. The 20/40 weekly moving averages have crossed - Check! 6. The gap between the 20/40 weekly moving averages continues to widen - Check! 7. I saw another segment on TV this morning about Bitcoin - Check! 8. The Bears are shorting their butts off trying to stop this launch - Check! Ladies and Gentlemen our fuel is 110% and we are ready for take off. Please throttle up main engines and initiate the count down. I'll see you on the other side of the moon. BBS out! In 10, 9, 8, 7,........................................... For clarity - If you are day trading this does not mean we are running North and never looking back. We could retrace at any time. I'm just saying that "In General" we are fueled up and ready to see new highs in the weeks and months to come. Since I am already long all I am doing right now it sitting back and watching the show.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
3
Bitcoin - From FOMO to ROMO in 2019Good morning my fellow Bitcoinistas! As a write this post there is a special on Good Morning America talking about Bitcoin, Facebook, etc. etc. etc. The Winklefloss twins are on there saying that at one point they were trying to buy up to 1% of all Bitcoin etc. etc. etc. Their "Ah ha" moment with Bitcoin and why they started Gemni etc. This ties in perfectly to the title of my post. "From FOMO to ROMO in 2019" What do I mean? We all know that FOMO means the "Fear Of Missing Out" but my new phrase ROMO mean the "Reality Of Missing Out" There is a BIG difference in my mind. Fears can be, and in many cases are, unfounded or unreasonable, but Reality is Reality. As Bitcoin continues to gain global conciseness and more and more big players keep buying in, the "Reality" for others is that "we don't have any" or "we don't have nearly enough" or "this is a lot harder to get my hands on than I thought" etc. etc. etc. I truly believe we are at the starting point of ROMO. It may start small but at some point it will accelerate quickly. I'm not talking about traders and people that have been flipping Bitcoin for years, I'm talking about people, businesses, and other institutions. Their ROMO point will come when they have the epiphany that this crypto thing is here, it's real, and it's going to change the world as we know it. At that point it won't be an unreasonable fear like FOMO, it will be ROMO! It will be the new reality for many. They will be playing catch up and competing with everybody else who is also playing catch up in the crypto world. At any rate, that is my vision for what I see coming soon. Especially when Bitcoin starts hitting new highs like $20K plus. Then ROMO will set in for anybody who starts paying attention to what is going on around them and especially for those people in the world where their local fiat is failing or has already failed. I am perma-long with only a small amount of Satoshi left on the exchange to play with. I know my approach and goals with Bitcoin may be much different than that of many here. Some people are still trading for or against FOMO and that's fine. I hope they all can put as much Bitcoin in their pile as they can before TSHTF. But for me, I have already faced and addressed my ROMO moment by securing my seat at the crypto table today and into the future. That is and was my objective with the exchange and it is now complete. Anything I do on the Exchange with Bitcoin now is just me farting around for fun with no serious consequences attached. In other words you can take this post and any future posts with a grain of salt. Whether my charts, my future pattern calls, etc. work or fail I have little to nothing riding on them. Keep that in mind if you chose to compare any of my work to whatever you might be doing. As a side note, I will make this recommendation to anybody new to trading Bitcoin or any other digital asset. Only keep on the exchange the amount of your total position you actually want to trade. In other words do not use these exchanges as your piggy bank. Get a hardware wallet and keep the majority of your funds under your control. Only put out there what you are willing to lose should another Mt. Gox type event happen to an exchange. Don't risk everything you have by storing it all with somebody else. And that is my 2 Satoshi on the matter. Good luck out there! BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
1
Bitcoin - WTF is going on?OK, call me paranoid, but anybody that has followed me for more than a minute knows I call the patterns early. I call the breaks early. I called the bottom early. I tend to panic early. Now, that being said, WTF is going on with the Bitcoin shorts the past few days or more? The Bitcoin price keeps plowing North but the short positions continue to climb. What? Nobody is going to cover? How much pain can these people take? Or..... is there something more nefarious going on? We know, or at least I know, that the demand for BTC is HUGE worldwide. Do the exchanges have enough BTC to fill all of the orders or are they selling short to fill the buy orders hoping to cover later? I don't know. All I know is that if I was short a thousand dollars ago I would have covered so fast we would not even be talking about it. I really am puzzled at to why the Bitcoin price continues to scream NORTH and yet there is no indication that anybody on the short side wants to cover. Are you that cock sure of your position that you will continue to take an ungodly amount of pain? I don't think so. I've been there and done that. Cut your loss and run is the order of the day. But that does not appear to be what is happening. Bitcoin goes up, the open short positions go up. Bitcoin goes up, the open short positions go up. Rinse and repeat. This has been going on for quite some time. My answer? I have removed ALL but about 10% of my long BTC position from the Exchange. If the shit is going to his the fan, I'll be dam if I'm going to stand in front of it. I am STILL long, will remain long, and ALL but 10% of my Satoshi are safely tucked away under MY control. If anybody has a good explanation of this situation I would love to hear it. BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
20
Bitcoin - What is going on with the Exchanges?OK, call me paranoid, but anybody that has followed me for more than a minute knows I call the patterns early. I call the breaks early. I called the bottom early. I tend to panic early. Now, that being said, WTF is going on with the Bitcoin shorts the past few days or more? The Bitcoin price keeps raging North but the short positions continue to climb. What? Nobody is going to cover? How much pain can these people take? Or..... is there something more nefarious going on? We know, or at least I know, that the demand for BTC is HUGE worldwide. Do the exchanges have enough BTC to fill all of the orders or are they selling short to fill the buy orders hoping to cover later? I don't know. All I know is that if I was short a thousand dollars ago I would have covered so fast we would not even be talking about it. I really am puzzled at to why the Bitcoin price continues to scream NORTH and yet there is no indication that anybody on the short side wants to cover. Are you that cock sure of your position that you will continue to take an ungodly amount of pain? I don't think so. I've been there and done that. Cut your loss and run is the order of the day. But that does not appear to be what is happening. Bitcoin goes up, the open short positions go up. Bitcoin goes up, the open short positions go up. Rinse and repeat. This has been going on for quite some time. My answer? I have removed ALL but about 10% of my long BTC position from the Exchange. If the shit is going to his the fan, I'll be dam if I'm going to stand in front of it. I am STILL long, will remain long, and ALL but 10% of my Satoshi are safely tucked away under MY control. If anybody has a good explanation of this situation I would love to hear it. BBS Out!
BITFINEX:BTCUSDSHORTSLong
by BitcoinBearSlayer
Another Bitcoin Cup and Handle? Target over $10KHello my fellow Bitcoinistas! This morning was very interesting. The Bears keep shorting and Bitcoin keeps moving higher. It doesn't make sense but it is what it is I suppose. I noticed another pattern that may be of interest if it plays out. I see another large Cup and Handle pattern that looks like it has already broken North. If so, the minimum near term target is just over $10K. I'm sure the Bears will keep shorting it until they finally get a decent pull back in price or until they blow up their accounts whichever comes first. Happy Hunting! BBS Out!
COINBASE:BTCUSDLong
by BitcoinBearSlayer