top of page

Bitcoin is in a Likely Bearish Correction 11/16/21

On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and rallied $40,555. This is ON HOLD.

On a lower timeframe basis: The roll over Wednesday warns we may be headed into a bearish correction against the move up from $28,800. If this is a bearish correction, it should exceed $13,000 from the high of $69,355, which we are now $10,840 into. The decent trade below $63,285 (+15 per/hour) has brought in $4,770 of the decent pressure warned about below. The decent trade below $61,890 (+15 per/hour) has brought in $3,375 of the decent pressure warned about below; but if we break back above decently, look for decent short covering—this will come in at $62,160 (+15 per/hour starting at 6:00pm). I would be aware of possible main corrective exhaustion levels at $55,640-3,860 and $49,080-8,305.

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

bottom of page