MillionaireEconomics

MillionaireEconomics

Today you can review the technical analysis idea on a 1W linear scale chart for Bitcoin (BTCUSD). BTC was recently rejected near the top of the Major Support and Resistance Line which I pointed out in a chart on January 22, 2023 (included in this chart). The BTC price is headed lower and may possibly hold at the new strong support area noted on the chart. That is...

MillionaireEconomics Updated 

Hello friends, today you can review the technical analysis idea on a 1M linear scale chart for the Volatility S&P 500 Index (VIX). In this chart, you can see the VIX moving along a support trendline. When the VIX spikes upwards that means the markets (specifically S&P 500; generally all markets) start to move downwards. Every few years the VIX starts to slowly...

MillionaireEconomics

Today I have a special chart showing the S&P 500 (SPX) on a monthly basis using the Wall St Cheat Sheet. I added in my bottom target range for this bear market cycle as well as multiple support and resistance areas, and a multi-year trend line. Once the price goes below the multi-year trend line, the Denial phase onward will begin in my opinion. This is a...

MillionaireEconomics Updated 

Today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). Bitcoin price has been pumping recently and there is potential for it to keep moving higher, but BTC price and RSI just made a lower low. If price keeps heading lower, it may come back down the channel shown in the chart. The area of support is in the $15K-$16K...

MillionaireEconomics

Today you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETHUSD). Ethereum price has been pumping recently and there is potential for it to keep moving higher, but ETH price and the RSI just made a lower low. If price keeps heading lower, it may come back down to where the recent pump started which is about a 30-35% correction,...

MillionaireEconomics Updated 

Hello friends, today I am posting the important Support and Resistance trend lines for Bitcoin (BTC). These are the lines that I keep a close eye on and though there may be more, these are the important ones I focus on. One thing to keep an eye on with Support and Resistance lines is how many times in the past has the price came into that area. The chart has no...

MillionaireEconomics

Today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). Bitcoin price has been pumping recently. So where could the price get up to before a retracement? I used the VPVR (Volume Profile) and Fibonacci Retracement to get an idea of where the price will see resistance and possibly heading back down. RSI is very high so a...

MillionaireEconomics

Today you can review the technical analysis idea on a 1D linear scale chart for Ethereum (ETHUSD). Ethereum price has been pumping recently. So where could the price get up to before a retracement? I used the VPVR (Volume Profile) and Fibonacci Retracement to get an idea of where the price will see resistance and possibly heading back down. RSI is very high so a...

MillionaireEconomics

Today I am charting the The US Dollar Index ( DXY ) on a monthly chart over a multi-year period. The chart shows a long term descending parallel channel (generally bullish), which the DXY has been trading in. The chart shows major touch points where the DXY is either supported or crosses support and resistance lines on the multi-year period. DXY has been...

MillionaireEconomics

Today you can review the technical analysis idea on a 1M linear scale chart for the Dow Jones Industrial Average Index (DJI). In the chart, I added in the RSI as well as review the Great Recession history to get an idea of where the DJI is headed. It seems that the DJI has been moving up an ARC with a possibility to come down and touch it again. It is currently...

MillionaireEconomics

Today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). The current upward momentum on the BTC price may be short lived as the RSI is very high in the overbought region. I have shown two directions which the price can move towards. Keep in mind that BTC price volume is still low, which is a concern. Expect some downward...

MillionaireEconomics

Today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin ( BTCUSD ). Bitcoin price has been heading higher but it may meet resistance very soon as shown in the chart. Volume is low and RSI is headed towards resistance. I have been calling drops on BTC since November and December of 2021. Be careful. If you enjoy my ideas, feel...

MillionaireEconomics Updated 

Today you can review the technical analysis idea on a 1M linear scale chart for Grayscale Bitcoin Trust (GBTC). GBTC has been falling significantly and it does not look good for the firm. Though they hold a significant amount of BTC, the discount is close to 50% and climbing resulting in the value of the Bitcoin held under $10,000 in the trust. This is a mega...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1W linear scale chart for Salesforce, Inc (CRM). The CRM price chart is self-explanatory. I posted about this stock in December 2021 and since that point, the price is down about 54%. It's not out of the water just yet as price has a possibility to head lower. There is a strong trend line where...

MillionaireEconomics Updated 

Hello friends, today I am completing a technical analysis on the 1M linear scale chart for Salesforce.com ( CRM ), traded on the NYSE. #CryptoPickk notes the following: 1) Salesforce.com price has been falling month over month, down about 20% from it's all time high price. 2) The price has been supported by a multi-year arc line (in red color). In the past year,...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1M linear scale chart for Apple Inc (AAPL). The AAPL price chart is self-explanatory. Price looks concerning as it has been moving significantly higher over the past few years. I put a few trend lines and support lines that will be very important as the price retraces. Included in the chart is...

MillionaireEconomics Updated 

Today you can review the technical analysis idea on a 1W linear scale chart for 10 Year Treasury Yield (TNX). In December 2021, I posted a chart showing that the 10Y rate was going to go much higher. I was exactly on point almost to the exact number. Today I was reviewing the 10Y rate chart and saw the RSI formed a double bottom base with the 10Y rate ready to...

MillionaireEconomics

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for ARK Innovation ETF (ARKK). The chart is self-explanatory. I have been providing warnings since December 2021 so I hope you followed along. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just...