BitcoinMillio18

BitcoinMillio18

Hey all, Bitcoin looks strong and not giving a short opportunity yet. You can ofcourse take your profits and go to a vacation, but the current levels looks like a Fibonacci Speed Fan 0.5 resistance flipped in to a new support. Since i'm looking for a short opportunity the next level would be Fib 0.382 which coincides with the previous swing high at 52.922. But...

BitcoinMillio18 Updated 

Hi fellas! This is what accumulation DOES! You will not go up before everyone turns bearish! Even the best traders i know were heading for 37k and boom, stops were hit! Lessons learned, never short the support! (once again!) Now, this is the Show Of Strength moment (SOS) in this accumulation zone. It was quick right? Patience pays off! We had literally tested...

BitcoinMillio18

I’m on the go for a few days and didn’t take my laptop, but this doesn’t mean I won’t publish new ideas ;) We have seen a great bounce with FED news (It has started way earlier than the public announcement ) and continuation with great news from Twitter integrating tips using bitcoin over lightning network through strike api. This creates a perfect environment...

BitcoinMillio18

P&F is an old but great chart technique i like to use. It measures the volatility - a perfect match to Bitcoin. I'm using 3 box reversal with box size of $1.000. It's used to calculate price objectives at the end of wyckoff structures by measuring horizontal counts. I've shared many p&f charts pointing 100k during first accumulation, but we got another...

BitcoinMillio18

Hi everyone, It's really hard to be bullish in times like these, but it's also the best time! When fear captures all brains, it's time to be greedy! You can even trade the fear & greed index as a counter signal, because markets are driven with fear and greed. I know pro traders that were waiting to buy at this level. Let's get into it, We had the spring with...

BitcoinMillio18

Ok guys, Let's get straight to it. The exact opposite happened after my last post and i still made 6.5% profit. Even the best investors have 67% win rate. So, how do you still make money while being wrong? First, charting and trading are two seperate skills. You can be a very good charter and a terrible trader and vice versa, because it's the execution that...

BitcoinMillio18

LOL :) This is what you will hear from bears screaming bear market and it's the perfect buy signal :) Here's why: 1- The Up Trend is Intact From a long term perspective our uptrend stride has finally found it's third touch and the supply trend is validated. Even a second spring happens, it will just be a shakeout. 2- The FED News This is where the reversals and...

BitcoinMillio18

Hi all, The wycoff structure here was not textbook. I was expecting the upthrust before the spring, but it didn't come. I realized that the reason for that was the 200MA on the daily which is one of the strongest MA's that you may call "live or die" line. Hence i will call September 11 and 12 highs as the upthrust, even though it's not text book. This brings us...

BitcoinMillio18 Updated 

Hi all, I've updated the wyckoff schematics with more details and adjusted the levels. We have just had the secondary test in phase B. I'm expecting the upthrust event to happen early next week when the Previous Weeks Value Low (pwVAL) is hit. This level is the exact level we crashed from 52k! My goal with this trade is to take profit at the upthrust and buy...

BitcoinMillio18

Hi all, In line with the primary uptrend, a smaller 15min timeframe accumulation is in play as the continuation formation. Price is moving in a narrow spread, but things can change as the levels are reached and reactions can go wild. I'm expecting an upthrust towards 48.300 - 49.300 where i will initiate a swing short upon confirmation of rejection, followed...

BitcoinMillio18

Hi all, My last post was at the begining of the uptrend which is still in play however with a correction and sideways accumulation right under the sell wall. That said, there's nothing concerning right now and i did not make any changes to my position. However, since we are in a sideways trading range, we have an opportunity to take a short at the top and long...

BitcoinMillio18

Here's the monthly chart for a broader (and cleaner) view of the current price action. Current pull back carries a lot of similarities with the hard fork crash back in November 2018. Both events were the biggest attacks on Bitcoin network and on both occurences the hashrate has dropped significantly overnight. Once the decentralized network proved to be rock...

BitcoinMillio18 Updated 

Alright people, are you ready to meet my bull face? I never actually removed my laser eyes anyways :))) There's a bull inside of every bear and vice versa! Let's start with, the bad news: Redistribution is invalidated, no more 20k in the horizon. The rally from 30k has set the end of redistribution scenario which has always been the possibility and this also...

BitcoinMillio18 Updated 

Although i don't trust intraday charts, It's hard to ignore the markup that has occured in the last week and how it recalls the begining of a distribution schematic, on the 6 hour chart. The volume peak on July 26th marks the preliminary supply (PSY) moving to the overbought region of the uptrend channel. Followed by the buying climax and an automatic rally to...

BitcoinMillio18 Updated 

Here's the P&F chart update for Bitcoin after the Amazon FUD. We have a reversal bar to the downside which is bearish, but in order not to become overly bearish, i'm also counting for a possible reversal to the upside for the next column. Ofcourse we should expect a reaction in these reversal bars. In fact the current reversal could be the reaction itself. 30k...

BitcoinMillio18 Updated 

As we are reaching to the top of the trading range, FOMO is kicking in, but remember at 29k, we were all expecting to go down. Same goes here, we are all expecting to go up, yet we are still in the trading range. It's important to hold on to your feelings now and stick with the plan or you risk buying the top. Next levels i'm watching are: 40.841 - Top of...

BitcoinMillio18 Updated 

Back in June 21st, I shared this idea on the similarities between accumulation and distribution and possible failure points. There were two points of possible failure. We have just passed the first one, however there's still a chance for a breakdown. Don't forget, we have not yet exited the trading range, so we could still go both ways. I'm expecting lower...

BitcoinMillio18 Updated 

I wasn't expecting this move, but that's what Bitcoin does :) Last time we were at $40k, i sold all my Bitcoin and exited my positions. Even this mega short squeeze didn't reach my exit levels, so i'm still in profit and have more purchasing power. This could change ofcourse and when it does i won't hesitate to go back in. Let's review what we have now; The...