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Bitcoin in an Overall Bull Trend, but also Likely in a Bearish Correction Against Move up from 4210

On a higher timeframe basis: This is in a bull market/trend, but likely in the final stretch from the move up from 4210. There are areas of possible exhaustion to be aware of at 61425-50 and 64725-6150 (we came shy of the lower of these by $200 with a 61225 high and rolled over 7750). This may be in the beginning phase of a bearish correction. Trade above 61425-50 will open up the upside for a run to the next possible exhaustion area.

On a lower timeframe basis: Decent trade above 58900 (-20 per/hour starting at 9:00am) should bring in decent strength. Decent trade below 58100 (+50 per/hour starting at 9:00am EST) should bring in decent pressure; but if we break below here decently and back above decently, look for decent short covering to come in.

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

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