FiveMillionMax

FiveMillionMax

Tell your favorite influencer who's bearish after a 52% multi-month correction that I said "Hi". And maybe not to get too excited with the caps lock next time #Bitcoin price moves up or down with 200$. Now, joke aside - there's still some noise and the RSI itself or any indicator used in isolation is sub-optimal. Thing is - we've got a huge conflux of indicators...

FiveMillionMax

I find a lot of confluence with the 160,000 target across the board. This is one of the many examples. This cycle is different than the previous one and yes - I don't expect a blow off top similar to 2017 in terms of % return.

FiveMillionMax Updated 

This is an experimental indicator I created. The idea is very simple - I believe there's a positive correlation between stable coins issuance and BTC's(and other coins) price appreciation. Rising levels == buying power. For the last 2 years it managed to spot local tops/bottoms. We just had a double tap on the line, which is very similar to June - July 2021...

FiveMillionMax

In a game of probabilities, one could never be 100% certain of the outcome. I'd be very happy if my opinion is helpful, yet of course - I can't predict the future, just working with what I see. In a search for evidence, however, my bias remains bullish. My conviction is we have bottomed and price will expand to the upside moving forward. It's worth noting that...

FiveMillionMax

How much more pain can we inflict? All the liquidity has been taken from Short Term Holders, there's no sell pressure. Market's had a full healthy reset, while maintaining a bullish structure on the large time frames. The comparison I've made with May-Oct 2020 is not so much due to PA similarities, but more because I believe both now and then we have a price...

FiveMillionMax

The Fib Channel uses 3 points: Low, Second Low and a High that's in between. I've chosen the 2013 local low, 2015 capitulation low and the 2014 Blow off top at ~ 1,150$. Note how all major lows and highs are respected including the 2017 blow off top. The channel perfectly caught the 14,000$ local top in June 2019 (0.5 Fib), the capitulation in March 2020 as well...

FiveMillionMax

I've never been a huge Pitchfork fan, but as the logic say "If it's stupid, but it works....then it ain't stupid!". So same applies here. If you have followed my other ideas, you'd see I am bullish and I called for that 33-34k level to be a strong support. Legend: -As long as we are above the midline, we the trend is intact and it's bullish. You can use some of...

FiveMillionMax

Previously I made an observation that the #BTC price has been trading around the same levels since early 2021, while the stablecoins market cap has seen an increase from 50 to around 170 billion. This is money already in the space that's ready to engage. If you study the BTC to USDT correlation, you will find that when new USDT is minted, Bitcoin price moves to...

FiveMillionMax

Through my trading career I've noticed that ratios play a big role you can find patterns that repeat overtime. Whether it's Fib levels, time ratio, fractals - I am always in the hunt for a pattern that repeats. I find post 2019 PA different to what was before and for that reason I will focus on data from this cycle as opposed to previous ones. Legend: Green Box =...

FiveMillionMax

The idea is pretty self explanatory, however I’d like to highlight how oversold the 1W RSI level is, especially paired with a bullish divergence. For those who’ve seen my previous ideas - 33,000-34,000$ was a range I expected for days. I believe we are in a year long bullish consolidation (30,000-60,000$) range and we will see another expansion to the upside. Cheers!

FiveMillionMax Updated 

There are several NVT indicators/charts you can find online, but I find this one as one of the best out there to spot market sentiment, buy/sell zones. Simply put, green zones cover heavy capitulation 'oversold' conditions and hence offer a great risk : reward ratio. You'd be surprised how profitable a simple strategy like this can be. The only thing you need is...

FiveMillionMax Updated 

Charles Capriole has long produced valuable indicators and this is one I certainly like to use, especially to pick up large market cycle bottoms. That said, the Bitcoin Production indicator has been particularly valuable in recent bull market as well as it picked correctly the March and Sep 2020 bottom as well as the big sell off in May 2021 to 30,000$. I am not...