Bitcoin is Still Short Term Bullish, but on the Verge of Failing a Formation 6/18/21
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 a correction exceeding $11,000—we have seen $35,315 so far, but this ‘correction’ also has a trending structure to it. This is ON HOLD.
On a lower timeframe basis: We held exhaustion with a $30,205 low and rallied $10,395. The decent trade above $35,820 (+7 per/hour) has brought in $4,250 of the strength warned about so far. The decent trade above $36,510 (-20 per/hour) projects this upward $5,160 minimum, $7,000 (+) maximum. We have attained $5,515. Decent trade below $36,750 (-10 per/hour starting at 9:00am) should start to bring in decent pressure.
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