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Bitcoin is in a bullish correction/trend against the move down 4/28/21

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. These are ON HOLD.

On a lower timeframe basis: The maintained gap lower on 4/19 left the short-term bearish reversal above warned about. 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 $3,805, rolled over and held it again with a $47,440 low and have bounced $8,350 so far. Decent trade above $56,230 (+10 tics per/hour starting at 9:00am) should bring in decent renewed strength and a likely run for the highs (+)—however, this is based off an "ok formed" formation, so you may use less volume. Today has a good likelihood of seeing range expansion.

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NOTE: Bitcoin MINI Futures being launched on May 3rd…

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

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