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.
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