goldbug1

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...

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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...

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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...

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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...

goldbug1

Bitcoin Bitcoin is setting up for another leg higher as it continues to consolidate in a typical pattern that favors a continuation of the prevailing trend. Just because we have a pattern does not imply it always plays out, but it does provide a piece of the puzzle as we do our analysis here. We also want to look at levels where there are signs of supply and...

goldbug1

The Corona Virus has brought wide spread fear into all markets, not just Bitcoin. When excessive fear strikes there is always a flight to dollars. We saw this in both previous recessions and once again here. However do not discount technicals, they do matter! Current Technicals Weekly Chart: Going into Sunday I update my weekly chart and there are a few...

goldbug1 Updated 

Looking across trading groups it seems the majority of Furus are long Bitcoin here. It is like a herd of wildebeests have stumbled upon a pasture of green grass. Normally we do not like to be positioned with the majority of the market, but price action is pointing to solid order flow to the buy side and that is the "hoof" prints we look for. Of course whenever...

goldbug1

Often overlooked by many that are focused on shorter term time frames is proportionality, volatility and market cycles. A couple weeks ago we were telling our members to trim out some inventory and prepare for a pullback. How long and deep the pullback was going to be was a guess, but we wanted to sell something into strength. Once we saw evidence the market was...

goldbug1

From day to day, week to week, Furus continue to jump from bullish to bearish looking at shorter term time frames. Often we are asked why we do not short this market and this is defined initially by a strategy we determined early on. No different than "Long Only" funds that only trade one way. One of the reason investors like "Long Only" funds is they are...

goldbug1

No if's and's or but's about it, the current price action of Bitcoin looks pretty crappy right now after a strong swing higher which we thought was leading to a broader swing higher. However taking out the 8500 level, where selling pressure gained momentum, and the push to the 6500 area, has us stepping back here. Is this an area to add? Nothing wrong with...