Bitcoin is in Bullish Correction Against Bearishness from the Highs 12/2/21
On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and rallied $40,555. The decent trade back above $30,810 (-5 per/hour) has brought in $38,545 of the strength warned about above so far. The decent trade above $30,600 (-25 per/hour) has brought in $38,755 of the strength warned about above. The decent trade above $32,035 (-15 per/hour) projected this upward $3,500 (++). We have attained $37,520. The decent trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $27,7350. I warned we had an area of possible corrective exhaustion to contend with at $38,655-350. We held this with a $40,085 low and bounced $29,270. The decent trade above $42,830 brought in $26,525 of higher trade. These are ON HOLD. I would be aware of possible main corrective exhaustion levels at $53,860, $49,080-8,305, and lower—but if this a correction and not a trend, the likely timeframe for one of these to hold more than temporarily is not until after January 2nd. We held the $54,225-3,860 support/exhaustion area with a $53,600 low and have bounced $6,080.
On a lower timeframe basis: The roll over on 11/10 put this into a bearish correction against the move up from $28,800. I warned it should exceed $13,000 from the high of $69,355, which we are now $15,755 into. The decent trade below $63,285 (+15 per/hour) has brought in $9,685 of the decent pressure warned about below. The decent trade below $61,890 (+15 per/hour) has brought in $8,290 of the decent pressure warned about below. These are all ON HOLD. I warned the trade back above $55,375-825 will warn of another lower timeframe bullish correction, likely to last for days—we have seen $3,855 so far. Decent trade above $58,615 (-10 per/hour starting at 9:00am) will warn of decent strength, but at the same time I would warn there are areas of possible exhaustion (if this is a bullish correction and not a trend), that come in at $59,615, $61,475, $63,335 and higher. We held the lower of Tuesday and rolled over $2,930, and again yesterday with a $59,545 high and rolled over $3,555. 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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