Make Kitco Your Homepage

Bitcoin bearish correction likely complete and new projections higher 3/29/21

Commentaries & Views

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.

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

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.