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Bitcoin is Bearish, but Seeing Short Covering Within 4/28/22

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. This is OFF HOLD.

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 $8,255 of pressure. The decent trade below $43,140 (-3 tics per/hour) warned of additional pressure. We have seen $5,475 so far. The trade below $40,805 brought in $3,140 of the pressure warned about. The trade below $38,535-190 structurally is a sign of weakness in general, but the trade back above on yesterday is bringing in some of the short covering warned about within this ($1,370).Trade above $40,765-895 will negate the bearish argument, and a decent penetration above $40,765 will project this upward $3,100.

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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