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Bitcoin is in a Bearish Correction 4/22/21

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 another correction exceeding $11,000—we have seen $12,695 so far. The decent break below $59,740-685 I said would warn of pressure to come in, likely back down toward $55,680 (-). We have seen $5,240 of this so far, taking out $55,680.

On a lower timeframe basis: The maintained gap lower Monday left the short-term bearish reversal above warned about. Decent trade above $60,150 will negate this and will warn of decent strength again and likely run for the highs (+).However, I would NOTE we held lower timeframe exhaustion below at $52,545-425 twice now, at the end of the day with a $52,555 low. Lower levels of exhaustion will come in at $51,125, $49,690-85, $47,395 and lower

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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