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Bitcoin is Bullish 10/11/21

NOTE: I have been away on vacation, thus the lack of blogs over the past week (+)

On a higher timeframe basis: We held exhaustion above with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $36,720 so far. The decent break below $59,740-685 brought in $30,885 of pressure. The maintained gap lower on 4/19 left the short-term bearish reversal above warned about. We have attained $28,310. The decent trade below $58,080 (-10 per/hour) has brought in $29,270 of renewed pressure. The decent trade below $53,965 (+10 per/hour) projects this downward $4,300 minimum, $6,700 (+) maximum. We attained $25,155. The decent trade below $47,535 (+25 per/hour) projected this downward $3,600 minimum, $10,600 (+) maximum. We attained $18,725 before short covering off the low. These are ON HOLD.

On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $28,830. The decent trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $16,025. I would NOTE: we may be in the last stretch of this bull structure upward—we are holding exhaustion at $57,665 with a $57,630 high—and a further failure back below $53,125 will warn of a start to a bearish correction against the move up from $28,800 which could exceed $13,000. If we take $57,665 out, the argument for a corrective exhaustion against the move down from April’s highs is negated. Beyond that we will have extension exhaustion levels at $61,185-295 and higher.

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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