On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and rallied $40,555. The decent trade back above $30,810 (-5 per/hour) has brought in $38,545 of the strength warned about above so far. The decent trade above $30,600 (-25 per/hour) has brought in $38,755 of the strength warned about above. The decent trade above $32,035 (-15 per/hour) projected this upward $3,500 (++). We have attained $37,520. The decent trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $27,7350. I warned we had an area of possible corrective exhaustion to contend with at $38,655-350. We held this with a $40,085 low and bounced $29,270. The decent trade above $42,830 brought in $26,525 of higher trade. 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, which we are now $22,140 into. The decent trade below $63,285 (+15 per/hour) has brought in $16,070 of the decent pressure warned about below. The decent trade below $61,890 (+15 per/hour) has brought in $14,675 of the decent pressure warned about below. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $12,330. The decent trade below $48,730 (+35 per/hour) warned of continued pressure. We have seen $1,405 so far, although I stopped short of suggesting leaning against it as a short. I warned in the Post Market Synopsis that on the day this warned of short covering before (if) resuming lower trade—we traded $2,590 higher before rolling over. Decent trade below $47,475 (+2 per/hour starting at 11:00am) will warn of decent pressure; but I will refrain from suggesting leaning against it as a short as we have possible exhaustion below at $45,870-385, and more significantly at $44,555-3,760. If we break below $47,475 (+2 per/hour starting at 11:00am) decently and back above decently, look for decent short covering for days. (NOTE: 'decent' penetrations are specific amounts detailed to clients).
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