Bitcoin has Been Projected Higher 2/9/22
On a higher timeframe basis: The roll over on 11/10 put this into a bearish trend. I warned it should exceed $13,000 from the high of $69,355—we have seen $36,500 of this. The decent trade below $63,285 (+15 per/hour) has brought in $30,430 of the decent pressure warned about below. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $26,690. We have come off $18,150 from the $51,005 close. These are ON HOLD.
On a lower timeframe basis: The decent above $38,510 (-20 tics per/hour), projects this upward $8,500 minimum, $10,500 (+) maximum. We have attained $7,095 so far. The decent trade above $40,525 (+37 per/hour) also warns of additional strength—we have seen $5,080 so far. I warned of possible corrective exhaustion at $45,260 and $46,800. We are currently holding the lower of these and where the $45,340 (+12 per/hour) line came in with a $45,605 high and have rolled over $2,825. This formation will come in at $45,675 (+12 per/hour starting at 5:00am), a decent break above which will warn of renewed strength that may take this through the upper exhaustion level to test higher levels. An additional NOTE: IF this is a correction, a corrective exhaustion level is not likely to hold more than temporarily until February 18th. If we roll further over from the lower one and take out the first line we broke above below, then this may have another stretch to the downside.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Bitcoin and Energy/Gold complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.
Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor