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Bitcoin in bearish correction 4/19/21

Commentaries & Views

On a higher timeframe basis: The decent trade above $60,000-50 brought in $5,470 of the strength warned about above before holding exhaustion above at $64,735-$66,145 with a $65,520 high. I warned if we held this we could see this roll over into another correction exceeding $11,000. We have seen $9,450 so far. The decent break back below $59,740-685 I said would warn of pressure to come in, likely back down toward $55,680 (-), putting all bull calls from below ON HOLD. We have seen $3,615 of this so far.

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) projected this upward $5,000(+). We attained $10,150. The decent trade above $56,890 (-20 per/hour) projected this upward $4,000 minimum, $10,500 (+) maximum. We attained $8,630 so far. These are ON HOLD. We are called $5,040 lower as of 8:47am. I would also NOTE: a maintained gap lower today will leave a short-term bearish reversal above. 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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