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Bitcoin is projected higher 7/23/21

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 a correction exceeding $11,000—we have seen $36,720 so far, but this "correction" also has a trending structure to it. The decent break below $59,740-685 I said would warn of pressure to come in. We have seen $30,885 of this so far. The decent trade below $53,965 (+10 per/hour) projects this downward $4,300 minimum, $6,700 (+) maximum. We attained $25,155. The decent trade below $47,535 (+25 per/hour) projected this downward $3,600 minimum, $10,600 (+) maximum. We attained $18,725 before short covering off the low. These are now ON HOLD.

On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $7,850 before rolling over. I warned that holding the exhaustion area and settling back above the $30,205 low is an early warning this move down from the high is likely over. The decent trade back above $30,810 (-5 per/hour) has brought in $2,120 of the short covering warned about above so far. The decent trade above $30,600 (-25 per/hour) has brought in $2,330 of the strength warned about above. The decent trade above $32,035 (-15 per/hour) projects this upward $3,500 (++). Decent trade back below should bring in decent pressure. This will come in at $31,850 (-15 per/hour starting at 1:00pm).
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NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Natural Gas 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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