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Bitcoin is Projected Lower 7/19/21

Writer's picture: Moor AnalyticsMoor Analytics

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 $36,720 so far, but this ‘correction’ also has a trending structure to it.


On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $7,850. This is ON HOLD. The decent trade below $34,850 (+40 per/hour) warned of decent pressure. We attained $3,335. The decent trade below $33,935 (+10 per/hour) has brought in $2,420 of additional pressure. Decent trade below $31,070 (-5 per/hour starting at 9:00am) should bring in decent pressure; but if we break below here decently and back above decently, look for decent short covering to come in. Decent trade above $31,670 (-15 per/hour starting at 9:00am) should bring in decent strength; but if we break above here decently and back below decently, look for decent pressure.


NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Natural Gas 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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