Bitcoin is Bearish 1/21/22
On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and rallied $40,555. The trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $27,7350. These are ON HOLD.
On a lower timeframe basis: The roll over on 11/10 put this into a bearish correction against the move up from $28,800. I warned it should exceed $13,000 from the high of $69,355—we have seen $31,240 of this. The decent trade below $63,285 (+15 per/hour) has brought in $25,170 of the decent pressure warned about below. The decent trade below $61,890 (+15 per/hour) has brought in $23,775 of the decent pressure warned about below. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $21,430. We have come off $12,890 from the $51,005 close. I said on 1/5/22 that we took out key exhaustion at $44,295-3,055, which suggests we may see additional lower trade—we came off over $4,715. These are OFF HOLD. The decent trade above $41,785 (-23 per/hour) brought in $1,760, and the break above $42,150 (-20 per/hour) another $1,395 before failing back below where the upper came in at $42,010 (-20 tics per/hour), taking the bear calls OFF HOLD and bringing in $3,895 of the decent pressure we are looking for below. We are approaching final possible corrective exhaustion at $37,480-300. Decent trade above $43,145 (-20 tics per/hour starting at 7:00am) will project this upward $5,000 minimum, $11,000 (+) maximum.
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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