Bitcoin in Bearish Correction 4/19/21
On a higher timeframe basis: The decent trade above $60,000-50 brought in $5,470 of the strength warned about above before holding exhaustion above at $64,735-$66,145 with a $65,520 high. I warned if we held this we could see this roll over into another correction exceeding $11,000. We have seen $9,450 so far. The decent break back below $59,740-685 I said would warn of pressure to come in, likely back down toward $55,680 (-), putting all bull calls from below ON HOLD. We have seen $3,615 of this so far.
On a lower timeframe basis: The decent break above $54,775 (+20 per/hour) brought in $10,735 of the strength we were looking for above. The decent trade above $55,370 (-35 per/hour) projected this upward $5,000(+). We attained $10,150. The decent trade above $56,890 (-20 per/hour) projected this upward $4,000 minimum, $10,500 (+) maximum. We attained $8,630 so far. These are ON HOLD. We are called $5,040 lower as of 8:47am. I would also NOTE: a maintained gap lower today will leave a short-term bearish reversal above.
NOTE: Bitcoin MINI Futures being launched on May 3rd…
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