1. A segway leading to a good thing or immediately proceeding a good thing.
2. An exclaimation expressing joy or satisfaction in a situation. Usually is based on the humiliation of another person, much likepwned. Correct use involves a long rant or insult with "bickitybam!" added to the end.
So I was making out with this girl at the party, bickitybam, we're back at her place makin nasty."
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.