BitcoinMillio18

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...

BitcoinMillio18 Updated 

We are all obsessed with the direction of price which we can't control and don't care enough attention to what we can control, such as our position sizing and action plan if the certain targets are met. That's why i'm always providing my bullish targets and i'll review these on a weekly perspective. We just got a pump on the last 2 hours before daily close with...

BitcoinMillio18 Updated 

Now that Elon & Jack had "the talk" and price jumped 6.5% as of writing, lets look at the charts and review the bullish case. I've first shared the volume profile analysis back in July 8th. At the time i published this analysis 134.000 or an extrapolated $18.76 Billion worth of Bitcoin was sold. Note that the number of Bitcoins are JUST Binance numbers. We...

BitcoinMillio18 Updated 

Let's look at the overbought area and the bull trap in the making. With "the talk" is now over, price started struggling to cross above the old weekly lows and got rejected twice as a sign of weakness. Coincidentally few days before "the talk", JP Morgan unleashed their customers from buying GBTC crypto funds. Is this the demand we were waiting for? In other...

BitcoinMillio18 Updated 

We are officially in a double bottom breakdown structure on the p&f chart! As i explained in my previous analysis, this breakdown will take us down between 14-16k. This structure started playing out on July 2nd when the reversal of the current downward column has kicked in: So, this is nothing unexpected if you followed my previous analysis. Let's see...

BitcoinMillio18 Updated 

My wife just got a new job and we now have a company car! There's no point in keeping our car, because it's a deprecating asset. However, as much as i want to buy more Bitcoin with this cash, i'm just not buying now and here's why; If you look at the downward channel, you'll see that the last time price went above, ended up with a mark down. It's way too risky to...