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Bitcoin is in a lower time frame bullish correction/trend against the recent bear move 4/26/21

Commentaries & Views

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 another correction exceeding $11,000—we have seen $17,925 so far.  The decent break below $59,740-685 I said would warn of pressure to come in, likely back down toward $55,680 (-).  We have seen $10,470 of this so far, taking out $55,680. 

On a lower timeframe basis: The maintained gap lower on 4/19 left the short-term bearish reversal above warned about.  We saw $9,725 from the open.  Decent trade above $60,150 will negate this and will warn of decent strength again and likely run for the highs (+).  However, on the downside we held the $47,395 exhaustion with a $47,395 low and bounced $3,835—we then rolled over and bounced off it again on GLOBEX with a $47,440 low and have bounced $11,880 into a likely lower timeframe correction against the move down from the highs.  Possible exhaustion areas for the corrective move (if it is one, and not trending), come in at $53,575-4,320, $56,455-7,480, $58,595 and higher—we are trading in the midst of the lower of these as I write this. NOTE: the ideal timeframe for one of these to hold more than temporarily is not until the 28th.  Decent trade above $55,735 (+10 per/hour starting at 9:00am) will warn of decent strength and likely run toward $67,000 (+). We are called $3,000 higher.

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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