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Bitcoin is in Consolidation Within Bull Trend 4/7/21

On a higher timeframe basis: This is in an overall bull market/trend. We were in a bearish correction within that against the move up from 4210. We came 200 shy of exhaustion above at 61425-50 with a 61225 high and rolled over 10865—I thought this may have been complete, but we may now be rolling over into another macro leg of it since we couldn’t take out 61225. The trade below 57450-57155 is starting to bring in some of the pressure warned about below; but if we break back above, look for short covering to come in. Decent trade below 53186 (+15 per/hour starting at 1:00pm) will put this below a topping formation which will project this downward 8875 (++).

On a lower timeframe basis: The decent break above 54775 (+20 per/hour) brought in 6225 of the strength we were looking for above. The decent trade above 55370 (-35 per/hour) also projects this upward 5000(+). We have attained 5630 so far. The decent trade above 56890 (-20 per/hour) projects this upward 4000 minimum, 12250 (+) maximum. We have attained 4110 so far. These are all ON HOLD.

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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