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Bitcoin is Bearish Unless we Take out Formation Above 8/27/21

On a higher timeframe basis: We held exhaustion above at $64,735-$66,145 with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $36,720. This is ON HOLD.

On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $21,785. I warned that holding the exhaustion area and settling back above the $30,205 low was an early warning the macro move down from the high was likely over. The decent trade above $41,590-605 projects this upward $4,200 minimum, $12,300 (+) maximum. We have attained $8,980. If we break back below decently, look for decent pressure to come in. The decent trade above $45,350 (-30 per/hour) warned of decent strength—we have seen $5,235 of this so far. These are ON HOLD. I warned we were approaching a key exhaustion area at $50,700-1,495 which we may see a decent rejection from on the way up—we held this with a $50,585 high and rolled over $4,355 so far. The decent trade below $47,410 (+30 per/hour) projects this downward $4,700 min, $7,900 (+) max. Decent trade back above here should bring in decent strength. This will come in at $48,300-570 (+30 per/hour starting at 9:00am).

NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Natural Gas 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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