Bitcoin is Overall Bullish, but Holding Key Exhaustion Above 4/15/21
On a higher timeframe basis: The decent trade above $60,000-50 has brought in $5,470 of the strength warned about above; but if we break back below decently, look for decent pressure to come in, likely back down toward $55,680 (-). This will come in at $59,800-745 through Friday. I warned of a possible significant exhaustion above at $64,735-$66,145—if we hold this, we could see this roll over into another correction exceeding $11,000. We are so far holding this with a $655.20 high and have rolled over $3,955.
On a lower timeframe basis: The decent break above $54,775 (+20 per/hour) brought in $10,735 of the strength we were looking for above. The decent trade above $55,370 (-35 per/hour) also projects this upward $5,000(+). We have attained $10,150 so far. The decent trade above $56,890 (-20 per/hour) projects this upward $4,000 minimum, $10,500 (+) maximum. We have attained $8,630 so far. The trade back above $57,450-57,155 brought in $8,070 of strength so far. Friday 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.
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