Bitcoin bearish correction likely complete and new projections higher 3/29/21
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On a higher timeframe basis: This is in an overall bull market/trend. This is now OFF HOLD. 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, but this is now likely complete On a lower timeframe basis: The decent trade below 58220 (+30 per/hour) warned of decent pressure. We attained 7860. The decent trade below 53755 (+20 per/hour) projected this downward 3145 minimum, 10635 (+) maximum. We have attained 3395 before breaking back above where this came in at 54775 (+20 per/hour at 6:00pm) Sunday. We have seen 4225 of the strength we are now looking for above. The decent trade above 55370 (-35 per/hour at 6:00pm) Sunday also projects this upward 5500(+). We have attained 3630 so far. The decent trade above 56890 (-20 per/hour) projects this upward 5600 minimum, 14860 (+) maximum; but if we break back below decently, look for decent pressure to come in. This will come in at 56815 (-20 per/hour starting a 9:00am). I warned Friday that today has a good likelihood of seeing range expansion—we have already exceeded Friday’s range, and are called 4695 higher as of 8:30am. CLICK HERE FOR FULL ARTICLE.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Gold and Energy complex. 'Decent penetrations' are specific amounts and provided to clients daily as well. If you are interested, please feel free to reach out.
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