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Bitcoin is Bullish 11/8/21

On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and rallied $38,880. The decent trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $26,075. These are OFF HOLD.

On a lower timeframe basis: I NOTED: The break back below $65,520 was a WARNING we may see decent pressure which could last for days/weeks. We have seen $7,665 so far. This is now ON HOLD. This bias will be negated with trade above $67,680. We held exhaustion at $57,950 with a $57,855 low and bounced $9,005. The decent trade below $63,295 (-4 tics per/hour) brought in $2,435 of the decent pressure warned about negating it on GLOBEX. The decent trade below $62,930 (+55 per/hour) brought in $2,070 of decent pressure before rallying back above the $62,870 (+35 tics per/hour) line, which now warns of renewed strength—we have seen $4,085 so far. Decent trade below $60,295 (+15 per/hour starting at 9:00am) will project this downward $6,700 minimum, $11,200 (+) maximum; but if we break below here decently and back above decently, look for decent short covering. I warned in the Post Market Synopsis that today has a good likelihood of seeing range expansion—we have already more than doubled Friday’s range.

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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