Bitcoin Bearish Correction Likely Complete and New Projections Higher 3/29/21
On a higher timeframe basis: This is in an overall bull market/trend. This is now OFF HOLD. We were in a a bearish correction within that against the move up from 4210. We came 200 shy of exhaustion above at 61425-50 with a 61225 high and rolled over 10865, but this is now likely complete
On a lower timeframe basis: The decent trade below 58220 (+30 per/hour) warned of decent pressure. We attained 7860. The decent trade below 53755 (+20 per/hour) projected this downward 3145 minimum, 10635 (+) maximum. We attained 3395 before breaking back above where this came in at 54775 (+20 per/hour at 6:00pm) Sunday. We have seen 4225 of the strength we are now looking for above. The decent trade above 55370 (-35 per/hour at 6:00pm) Sunday also projects this upward 5500(+). We have attained 3630 so far. The decent trade above 56890 (-20 per/hour) projects this upward 5600 minimum, 14860 (+) maximum; but if we break back below decently, look for decent pressure to come in. This will come in at 56815 (-20 per/hour starting a 9:00am). I warned Friday that today has a good likelihood of seeing range expansion—we have already exceeded Friday’s range, and are called 4695 higher as of 8:30am.
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.
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