goldbug1

goldbug1 Updated 

In yesterday's article we were anticipating a pullback to the $6500 range for a short term trade for $7500. However the market had other things in mind and the pullback was very shallow just touching the 0.236 level which is enough to say it's complete but does not necessarily mean it has. However we did move up from $7500 to yet hit another high, so we can with a...

goldbug1 Updated 

Break out the party hats and champagne the Crypto market reached 200billion dollars! "NOT SO FAST MY FRIENDS" (LEE CORSO) Excluding Bitcoin the overall market capitalization is still in bear territory. It is still down 20% from it's all time high. In the past two weeks it has dropped another 5% and only the time the beast (btc) has rallied to new highs! But...

goldbug1

Prior to being the cool coin to own, we mentioned a few weeks ago after listening to one of the experts on our radio show that BCH' was the real Bitcoin! We added BCH' to our portfolio and here is the reasons why! The original white paper by Satoshi Nakamoto defines "an electronic coin" as "a chain of digital signatures" where each owner transfers ownership...

goldbug1 Updated 

Unless you own BCH' or BTC' it's been a painful ride the last week. I mean even the BTC' contender ETH' is getting beaten up. But why is BCH' making a run when the rest of the alt' blue chips are getting crushed? Well to me it's very simple! 1) I mentioned before BCH' is the real bitcoin that adheres to the white paper. I know there is debate about this, but this...

goldbug1 Updated 

Back on October 17th I first posted about Bitcoin Cash and the reason I was adding it to my core portfolio. At that time it appeared to be consolidating nicely which is my favorite trading method as we have posted many times on the Darvos or consolidation box trading method. At that time we added from our cash position to make it 10% of our long term portfolio. ...

goldbug1 Updated 

Once we past $6250 and held, we mentioned we would likely turn bullish for $7000. What had me stumped was a correct Elliott Wave count that could explain this. Yes I seen the one that has us in a wave 5 but this just did not sit right with me as wave 4 extended into wave 1 which is one of the rules of EW' that just can not be broken. This bothered me and I...

goldbug1 Updated 

We have time and time again warned against margin shorting BTC'. This is highly dangerous. Yes you can put stop orders in place to HOPEFULLY protect yourself, but this is no guarantee that your stop will be filled at this level. In thinly traded markets this is a recipe for disaster. In addition there are fundamental changes due with BTC' as well such as the...

goldbug1 Updated 

Another one of our long term holdings that we were adding to during the correction has broken out of the box. Now it's too early to confirm whether this is just a fake break or a true bullish move so we still need to be patient! October 23rd we noticed this nice consolidation after breaking the downward trend line and how it broke it and consolidated we felt...

goldbug1 Updated 

We have mentioned for weeks now that the market is just to volatile to be trading and at that time we went to 30% cash in our 70/30 portfolio. Now we didn't sell anything (with one exception which i will explain), but instead of trading the market, we battened down the hatches and were looking for fire sales. Now this is not a knock on traders. I follow several...

goldbug1 Updated 

The intent of Satoshi was to have a decentralized currency that was not subject to governments and or central banks. Bitcoin used to be that currency, but as in all things good it appears corruption has reared it’s ugly head. Ideally it is great to have a currency that is limited by an algorithm that only allows so many to ever come into existence. Or so we...

goldbug1 Updated 

There appears to be no end to the news and drama surrounding the upcoming Segwit2x fork in November. We have been following this closely as ultimately fundamental changes to bitcoin will effect pricing. Bitcoin Gold has lost 75% of it's value since it was first traded on the futures market. Will Segwit2x follow suit? Currently B2X is trading around $1000. So many...

goldbug1

Yesterday a few articles came out really getting the herd riled up. Full stampede mode with titles like "More Rumors Amazon Could Accept Bitcoin as All Eyes on Conference Call" with about 70,000 views in one day. Of course it doesn't stop there. On the daily Fx "Bitcoin Pushes Higher on Amazon Rumor". Let's not forget the rumor that paypal accepts bitcoin for...

goldbug1 Updated 

It's been interesting to say the least since Sept 13th. As we have always stated trading corrections can be extremely difficult even for the best traders. The irony is as many times as I have changed my path have come back to almost my original theory on how the correction would happen. The only difference is the extended top. I've seen other counts out there...

goldbug1

I've kind of ignored LTC' for a couple weeks now because of the upcoming fork with BTC' segwit2x. Why is this? Well quite frankly BTCsegwit2x could make both Litcoin and vertcoin less relevant. It's all about branding and most people outside those of us who sit in our underwear drinking coffee and eating Doritos 16 hours a day mauling over all crytpo currency...

goldbug1 Updated 

It's not that I'm always a bear, it just seems we get to our target levels in a bullish manner much quicker than expected. On Oct 9th we posted "the next leg up" with a final target of $6000. We got there in like 2-3 days or close enough that we were looking for a signal for a pullback. Now AS LONG AS $6252 is not broken and held (I don't mean a wick) I have...

goldbug1

Bernard Baruch is an investment and trading legend. Often considered "the lone wolf of wallstreet". And for good reason, he did not follow the crowd. Many great men such as Paul Tudor Jones, Ed Seykota, JP Morgan and Warren Buffet have great quotes that I have posted above my desk. Well one of my favorites is Bernard's. "Don't try to buy at bottoms and sell at...

goldbug1

In the next few weeks we are entering an interesting period where we have two upcoming planned forks. Now the bitcoin gold fork in my opinion is negligible but the segwit2x fork is important. Why is this important, Liquidity, supply and demand. From the chart you can see the altcoins have diverged from BTC' for the most part. Though the overall market cap has...

goldbug1

It never ceases to amaze me the resilience of Bull markets. But as an investor for the long term I do not buy on the fear of missing out. Been there done that been burned. I also do not sell my core holdings because I think I can time the market with my crystal ball. However I can increase my return in small time frame trades. This is the exact reason I have the...