top of page

Bitcoin is Bearish, but Likely in Last Stretch Before Correction 4/18/22

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. The trade below $63,285 (+15 per/hour) has brought in $30,430 of the pressure warned about below. The decent trade below $61,890 (+15 per/hour) has brought in $29,035 of the 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.

On a lower timeframe basis: We held extension exhaustion at $34,550-355 with a $34,295 low and rallied $14,180. I also warned trade back above $36,340 would warn of higher trade—we have seen $12,135. These are ON HOLD. The decent trade below $45,920 (+23 tics per/hour) brought in $7,385 of pressure. The decent trade below $43,140 (-3 tics per/hour) warned of additional pressure. We have seen $4,605 so far. The trade below $40,805 brought in $2,270 of the pressure warned about. NOTE: we are likely in the last stretch of this bear structure from $48,475 down, with areas of possible exhaustion coming in at $38,545-40, $38,040-7,705, $35,845-5,305 and lower—any of which have the potential to bring in a bullish correction against the move down exceeding $3,265. Trade/settlement back above $39,190-325 will also warn of a termination of the bear structure and entry into a bullish correction/trend.

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

bottom of page