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Bitcoin is in a Bullish Correction/Trend Against the Move Down 4/28/21

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 $17,925 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 $10,470 of this so far, taking out $55,680. These are ON HOLD.

On a lower timeframe basis: The maintained gap lower on 4/19 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, on the downside we held the $47,395 exhaustion with a $47,395 low and bounced $3,805, rolled over and held it again with a $47,440 low and have bounced $8,350 so far. Decent trade above $56,230 (+10 tics per/hour starting at 9:00am) should bring in decent renewed strength and a likely run for the highs (+)—however, this is based off an ‘ok formed’ formation, so you may use less volume. Today has a good likelihood of seeing range expansion.

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.

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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