BitcoinMillio18

BitcoinMillio18 Updated 

BTC has formed a textbook Wyckoff structure on the weekly chart — but are we entering Phase D markdown, or is this just a trap before continuation? 📉 Distribution Case (Primary Bias): BC → UT → UTAD clearly defined Bearish RSI divergence at UTAD confirms momentum exhaustion Volume drying up = weakening demand 🎯 Targeting the 0.618–0.66 fib zone near 87k–89k,...

BitcoinMillio18

Price is forming a textbook bear flag following the sharp drop from ~108.8K. The structure shows rising lows in a tight channel, typically a pause before further downside. 📉 Bear Flag Anatomy: Breakdown support: ~104,000 Measured move target: 98,810 RSI: 49.94 — hovering just below neutral, watch for dip <40 for breakdown confirmation. Volume: Still low —...

BitcoinMillio18

🧩 Megaphone Formation (Broadening Wedge) Volatility expanding inside a widening range Price now testing the Fib cluster (0.66–0.618) between 105,568–105,987 RSI at 66.3, nearing overbought — pressure is building Volume surging above 20-period MA → breakout imminent 🎯 Key Confluences: Upper Bollinger Band: 105,950 Mid BB (Basis): 105,110 Lower BB: 104,342 55...

BitcoinMillio18

📉 Daily Chart – Rejection from Mid-BB & Fib Cluster BTC bounced into the 0.618–0.66 retracement zone (105,495–106,443) Price failed to close above the mid-Bollinger Band (106,443) Volume declining on the bounce → lack of buying conviction RSI barely holding above 50 (52.05) → weak momentum Price is now rejecting from the underside of broken support → classic S/R...

BitcoinMillio18 Updated 

Bitcoin just posted a decisive 4H candle close below 55 SMA, mid-Bollinger Band, and the primary ascending trendline. Volume spiked to 7.31M, and RSI dropped to 38, confirming bearish momentum. ⸻ 🧩 Wyckoff Structure Under Threat: • ❌ LPS level invalidated • ❌ Phase D uptrend broken • 📉 No breakout above ATH (~109.8K) after three attempts • 🟠 Still holding BC...

BitcoinMillio18 Updated 

Bitcoin has now closed below the multi-week ascending trendline on the daily chart — the same trendline that defined the entire Phase D markup structure. ⸻ 🔍 Breakdown Highlights: 📉 Daily Close: 107,764 → well below trendline ✅ 🔻 Volume: 18.42M (near 20-day average) → not a panic candle, but confirms exit ✅ 📉 Fibonacci Cluster: 0.5 (107,093) and 0.618...

BitcoinMillio18

⚙️ Technical Thesis: We're currently witnessing the unfolding of two back-to-back Wyckoff reaccumulation structures on the 4H timeframe: 📦 Reaccumulation #1 (Left) Structure: PSY → BC → AR → ST → Spring + Test → LPS → SOS Bullish pennant formed after Spring, leading to a strong breakout BC of this phase (105,821) now acts as a major upper resistance 📦...

BitcoinMillio18

Bitcoin continues to coil below ATH resistance, now forming a second symmetrical pennant after the first flagpole breakout. Price is wedged between the ascending trendline support and persistent ATH rejection (~109.8K) — and the next move could define the entire Phase D → Phase E transition. 🧠 Wyckoff Reaccumulation Context: ✅ Spring + Test confirmed ~May 19 ✅...

BitcoinMillio18 Updated 

Bitcoin is currently trading near ~$110K as the Bitcoin 2025 Conference kicks off today in Las Vegas, featuring major political and institutional figures. Price has been grinding higher into the event — but historically, Bitcoin conferences have marked short-term tops. 🔍 Historical Context: Bitcoin 2024 (Nashville): BTC dropped ~30% post-conference Bitcoin 2022:...

BitcoinMillio18

📌 Price is now being squeezed between major trendline support and ATH resistance (~110K) — forming an apex structure, typical of Wyckoff Phase D → Phase E transitions. 🧠 Wyckoff Structure So Far: Phase A/B/C: BC → ST → UT → Spring → LPS Phase D: Multiple SOS rallies followed by a BU (backup to edge of creek) Now: Testing the upper boundary of the range again —...

BitcoinMillio18

Timeframes: 1W • 1D • 4H Structure: Wyckoff Reaccumulation nearing Phase E — but ATH is acting as resistance 🔹 WEEKLY OUTLOOK: Macro Structure Points to Markup Last weekly candle closed above the reaccumulation Buying Climax (BC), showing bullish intent Weekly upper Bollinger Band is rising toward 113k RSI at 67, strong but not overbought Structure suggests we’re...

BitcoinMillio18

1D Chart • Price broke above ATH (~110K) on May 22 with a +1.87% gain, backed by strong volume (~413K vs 190K avg) — signaling legitimate breakout intent. • May 23 followed with a -3.93% bearish engulfing candle, closing back below ATH on elevated sell volume (~279K). • Despite the rejection, the breakout bar showed no upper wick exhaustion, so not a...

BitcoinMillio18

Bitcoin is currently testing a critical confluence zone just below the prior ATH breakout (110k). After a clear Sign of Strength (SOS) breakout, price has retraced to retest the: 🔸 Mid Bollinger Band (108.9k) 🔸 Previous ATH breakout zone 🔸 Local channel support & uptrend line RSI is neutral at 50.76 and volume remains slightly elevated — suggesting a potential...

BitcoinMillio18

Bitcoin just confirmed its first daily close above the pennant breakout, reclaiming the previous ATH (~110K) with conviction. We now have both structural breakout confirmation on the 1D chart and clear Wyckoff Phase D progression on the 4H. ⸻ 1D Chart Highlights: • Daily Close: 110,993 • Breakout from bullish pennant • Volume expanding into the...

BitcoinMillio18

Bitcoin is advancing through a textbook Wyckoff Re-Accumulation structure on the 4H chart. After the Spring and multiple LPS confirmations, price surged above the previous range high (~110k), entering a strong Sign of Strength (SOS) rally. We now observe: ✅ Second 4H candle close above ATH (110,000) ✅ RSI: 70.9 → Strong bullish momentum ✅ Volume: Above MA during...

BitcoinMillio18

Daily close just under ATH at 109,609 We had only 1H confirmation above ATH, with the first 4H close above ATH likely in 30 minutes. The breakout volume is well above average (Volume MA: 172.89k), but daily candle still below resistance. This could be: • A Sign of Strength (SOS) transitioning into Phase E markup, • Or a premature breakout without higher...

BitcoinMillio18

BTCUSDT (1D): Bitcoin has broken out from a tightly formed bull flag / pennant within a rising channel. The breakout is confirmed by a daily close above 105,863, reclaiming mid-channel structure and pushing toward the ATH zone near 110K. Measured move target from the pattern sits at 116,199, which aligns closely with the upper boundary of the trend channel and...

BitcoinMillio18

After weeks of sideways action, Bitcoin shows classic **Wyckoff Re-Accumulation** behavior: ### 🧱 Phase Breakdown: 🔹 **Phase A** * **PSY**: Initial supply surge * **BC**/**AR**: Range boundaries established 🔹 **Phase B** * **ST**: Testing top of range * **UT**: Upthrust above resistance, followed by rejection 🔹 **Phase C** * **Spring**: Trap move below...