Bitcoin is Bullish 4/12/21
On a higher timeframe basis: This is in an overall bull market/trend. We came 200 shy of exhaustion at 61425-50 with a 61225 high and rolled over 10865 into a bearish correction against the move up from 4210, but this is now complete. The decent trade above 60000-50 has brought in 1895 of the strength warned about above; but if we break back below decently, look for decent pressure to come in. I would be aware of a possible significant exhaustion area above at 64735-66145—if we hold this, we could see this roll over into another correction.
On a lower timeframe basis: The decent break above 54775 (+20 per/hour) brought in 7170 of the strength we were looking for above. The decent trade above 55370 (-35 per/hour) also projects this upward 5000(+). We have attained 6575 so far. The decent trade above 56890 (-20 per/hour) projects this upward 4000 minimum, 11250 (+) maximum. We have attained 5055 so far. The trade back above 57450-57155 brought in 4495 of strength so far.
NOTE: Bitcoin MINI Futures being launched on May 3rd…
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.
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