Bitcoin is bullish 10/11/21
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
On a higher timeframe basis: We held exhaustion above with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $36,720 so far. The decent break below $59,740-685 brought in $30,885 of pressure. The maintained gap lower on 4/19 left the short-term bearish reversal above warned about. We have attained $28,310. The decent trade below $58,080 (-10 per/hour) has brought in $29,270 of renewed pressure. 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 ON HOLD.
On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $28,830. The decent trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $16,025. I would NOTE: we may be in the last stretch of this bull structure upward—we are holding exhaustion at $57,665 with a $57,630 high—and a further failure back below $53,125 will warn of a start to a bearish correction against the move up from $28,800 which could exceed $13,000. If we take $57,665 out, the argument for a corrective exhaustion against the move down from April’s highs is negated. Beyond that we will have extension exhaustion levels at $61,185-295 and higher. CLICK HERE FOR FULL ARTICLE.
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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