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Bitcoin is Bearish 3/4/22

On a higher timeframe basis: The roll over on 11/10 put this into a bearish correction/trend against the move up from $28,800. I warned it should exceed $13,000 from the high of $69,355—we have seen $36,500 of this. Although we could see more of this if we roll over to take out the formation mentioned in the lower timeframe basis below, I would NOTE that the break above that formation took this out of the bear trend. The decent trade below $63,285 (+15 per/hour) has brought in $30,430 of the decent pressure warned about below. The decent trade below $61,890 (+15 per/hour) has brought in $29,035 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 OFF HOLD.

On a lower timeframe basis: We held extension exhaustion at $34,550-355 with a $34,295 low and rallied $10,815 into a bullish trend. I also warned trade back above $36,340 would warn of an early end to the downward structure and entry into a bullish correction/trend—we have seen $9,310. The decent trade above $42,375 (-12 per/hour) projected this upward $8,200 (+). We have attained $3,080 so far. This will come in at $41,420 (-12 per/hour starting at 5:00am). These are ON HOLD. The decent trade above $42,920 (-9 per/hour) only brought in $2,535 of strength before rolling over and failing back below where it came in at $42,415, which now warns of decent pressure. Failure below the lower line mentioned above should give additional downside confirmation. I warned in the Post Market Synopsis that this did not go out looking strong on the day—we have come off $1,140.

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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