BitcoinBearSlayer

BitcoinBearSlayer Updated 

I like this channel better. If this is wave 4 of 5 then hitting the 38 Fib around $9,125 before going higher would make sense.

BitcoinBearSlayer Updated 

It 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...

BitcoinBearSlayer Updated 

This 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...

BitcoinBearSlayer Updated 

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...

BitcoinBearSlayer Updated 

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...

BitcoinBearSlayer Updated 

There is a lot going on in this daily chart. The price has bounced off the 140 day moving average (20 week MA) as well as put in a green engulfing bullish candle. If this is a 5 Wave move North wave 2 came down perfectly to bounce off the 78.6 Fib which is very common for wave 2. If all of this is indicating a bullish move the price could easily meet or exceed...

BitcoinBearSlayer Updated 

Someone I follow on Youtube would call a pattern like this baby blue line a "double bottom with bear trap" Basically it is a W formation or double bottom in the chart price and just about the time everybody thinks we are breaking North the price plummets South thereby confirming the bearish bias. In reality though it is just a "bear trap" catching those that...

BitcoinBearSlayer Updated 

No matter how you draw these triangle the momentum still is very Bullish. Still long and still slaying it! BBS out.

BitcoinBearSlayer Updated 

A daily look at the current situation anticipates a breakout to the North around the first week of July. The green box is 70%-75% of the entire triangle. A typical breakout area. If the price breaks North as expected the new target is around $16.2K Good luck! BBS out.

BitcoinBearSlayer Updated 

I'll be watching this 4 hour channel on Coinbase to see how long Bitcoin can trade inside it. So long as we don't fall out of the bottom of this Channel we are making bank. :0) Keep in mind that from now until next May 2021 the 365 day stock to flow price will continue to rise until it reaches over $99K. What does that mean in simple terms? As time goes on it...

BitcoinBearSlayer

Are we going to get one more chance to accumulate during the summer? If this inverse head and shoulder plays out that may be exactly what we get. Good luck! BBS Out!

BitcoinBearSlayer

Just posting this long term monthly look at Bitcoin for future reference.

BitcoinBearSlayer Updated 

If bitcoin were to do nothing more than to rise within this established channel it has the possibility of reaching $500K within 5 years. If it were to break out of the channel to the upside it could hit that target even sooner. Of course it would revert to the mean again eventually but either way, I like the long term look at bitcoin. Consider this your daily...

BitcoinBearSlayer Updated 

If we stay above the pink line this could be another bear trap, if we break below the pink line then the inverted H&S pattern is busted. We'll know which soon.....

BitcoinBearSlayer Updated 

The CME gap will fill along this pink line. If one were so inclined, this would be a good area to add to their longs. This is not financial advice, just me thinking out loud. Good luck!

BitcoinBearSlayer Updated 

If not, we must be getting close....

BitcoinBearSlayer Updated 

This line looks important to me. Price has traded around it for a very long time....

BitcoinBearSlayer Updated 

Are you a Bull? Then this triangle is breaking north. Are you a Bear? Then this triangle is breaking south. If you are a market maker it could do both. Move up then down or down then up. If we get a head fake I am in the camp of down then up. Perhaps a break down with a spike low to tag $8,900 area filling the CME gap and sucking in the Bears followed by...