Bitcoin is Bullish on a Lower Timeframe Within Consolidation 3/24/22
On a higher timeframe basis: The roll over on 11/10 put this into a bearish correction/trend against the move up from $28,800. I warned it should exceed $13,000 from the high of $69,355—we have seen $36,500 of this. The trade below $63,285 (+15 per/hour) has brought in $30,430 of the pressure warned about below. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $26,690. We have come off $18,150 from the $51,005 close. These are ON HOLD.
On a lower timeframe basis: We held extension exhaustion at $34,550-355 with a $34,295 low and rallied $10,815. I also warned trade back above $36,340 would warn of higher trade—we have seen $9,310. Decent trade below $42,700 (+28 tics per/hour starting at 6:00am) will warn of decent pressure. Decent trade above $43,910 (-3 tics per/hour starting at 6:00am) will warn of decent strength; but if we break above decently and back below decently, look for decent pressure. Today has a good likelihood of seeing range expansion.
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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