BitcoinMillio18

BitcoinMillio18

Bitcoin had a 20 week rally starting 21 November 2022 after 23 weeks of double bottom formation which was the sign of strength (SOS) event in this accumulation structure. Now, after another 26 weeks of sideways re-accumulation type structure, Bitcoin has retested 25k zone multiple times and flipped this once resistance in to support and is ready for the markup...

BitcoinMillio18

It took 8 weeks to restest 25k zone may take few more days to complete this reaccumulation Next levels to the upside is between 36-43k

BitcoinMillio18

if it looks like a duck and quacks like a duck it must be a duck.

BitcoinMillio18

Jokes aside, this is a bearish pennant which usually breaks down. I don't know who's left to sell but, here we are. 25.918 is the las fib .66 standing from covid low to November high. If it breaks, 24.390 If it breaks, 19.349 Don't be overly bearish or bullish. Trade the charts, use stop loss, you'll be fine. PS. Don't buy shitcoins.

BitcoinMillio18

Bitcoin has been in a sideways range since Jan 24th after dropping from ATH in November. Since then accumulation structure has formed and showed sign of strength at the begining of March by hitting 45.352 and rejected from 200MA. Following this rejection, Bitcoin started printing higher lows and has successfully broke above 200MA in it's second attempt. I'm...

BitcoinMillio18

While OBV looks shit and PnF points to 31.500, there's confluence at 34k. Would you bet on it? Personally i won't. We are at mark down phase of wyckoff distribution. Better be late to the party than show up at someone elses party.

BitcoinMillio18

Hi all, Long time no see :) Here's the PnF chart horizontal count analysis. Both segments of distribution have been activated, so this should end somewhere above 30k IF we are in accumulation. If 30k is lost... maybe black swan will come. Ps. I've updated my profile, check it out.

BitcoinMillio18 Updated 

Hi all, Bitcoin managed to cloas the week above 50k. While this physcological level gives comfort, the real resistance is at the weekly 51.791 and we are below that level. That said, consolidating under resistance is considered bullish, however, we don't know how price will react after passing this level. The wyckoff distribution i have pointed out in my...

BitcoinMillio18

Alright people, In my previous analysis i've pointed out this distribution schematic on a weekly timeframe. I've digged in further. Re-evaluating the whole structure since last October as distribution changes everything! The first step to confirm this schematic would be loosing 43.200. Once lost, we will enter in to the previous accumulation zone and POC of...

BitcoinMillio18

Hi all, On a weekly timeframe, bigger picture is matching a double top distribution which we have seen on the smaller timeframe recently. Not much to say really. This schematic suggests a mark down below 28.754 towars 24-27k and further after a weak bounce. It could vey well end up at 19.302 (70% correction) which looks impossible today. but remember Bitcoin was...

BitcoinMillio18

Unfortunately breakout scenario failed and our most important level 58k was lost. If we can't reclaim it by the monthly close, i expect further down side and mark down of the distribution range to complete. First strong support is below fib. 0.5(48.900) 47.500 / 47.600 Second and stronger support is at 43.160 weekly level between fib. 0.618 & 0.66 also near...

BitcoinMillio18 Updated 

Hi all, Latest price action showed wyckoff is not a pattern but a scheme. Lot's of non-text-book, incomplete distributions and accumulations and their twisting combinations occured, so i digged in to the idea of a bigger underlying structure of accumulation, right under the yearly resistance at 58k looked very much possible to me especially after many bullish w...

BitcoinMillio18 Updated 

Hi all, At the end of distribution, we got a strong bounce instead of mark down and the following pattern is a W shaped double bottom formation which is now becoming an inverse head and shoulders. This is bullish and if we get a bounce from 55.850, this can turn in to a breakout. My stop buy order is ready if this happens, but if you want to take the risk, you...

BitcoinMillio18

Hi all, We have completed the micro distribution at LPSY and now in mark down phase. Lots of long and short squeeze happening, so i wanted to provide a simple framework to trade this mark down. Here's my take on the dip, Following the downward stride we'll get the first bounce at 51.700 but it will be taken down after a short bounce (so take quick profit around...

BitcoinMillio18 Updated 

Hi all, After a perfect call of the top, here's the last chance to exit. We have bounced off of 56.766 and a new micro distribution comes in to play. We have completed the SOW and heading towards UTAD around the POC. This is the last chance to exit before mark down. Trade safe and use a stop loss. PS. Yes wyckoff applies to all timeframes, including 5 min :)

BitcoinMillio18

Hi all, We are about to complete the distribution after bouncing from 55.600. This is the micro version of the bigger distribution i shared in my previous posts. Curently UTAD in the making. I expect a dump towards 58.300 where the stopping action will occur with a bounce followed by second dip at 57.900 (point of control) of distribution range. Trade safe and...

BitcoinMillio18

Hi all, Now that the distribution play has revealed itself, i'm looking for the mark down and completion of distribution following a reversal to the upside. We had a similar but different distribution play last year early September and the pull back ended at Fib 0.5. If this profit taking and bonus collection of money managers repeat itself, we can expect a...

BitcoinMillio18

Devil has it's own signature :) And 66.666 came up couple of times during the last week. This time it matches the mid-line of the upward channel. Don't get me wrong, i didn't work around this number, it was just very close to the intersections. So, my previous analysis is still in play and should this be a distribution, we will reverse at around 66.666 and...