Bitcoin is overall bearish, but has a good likelihood of trading higher on the day 1/25/22
Kitco Commentaries | Opinions, Ideas and Markets Talk
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On a higher timeframe basis: The roll over on 11/10 put this into a bearish trend. I warned it should exceed $13,000 from the high of $69,355—we have seen $36,500 of this. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $26,690. We have come off $18,150 from the $51,005 close.
On a lower timeframe basis: I said on 1/5/22 that we took out key exhaustion at $44,295-3,055, which suggests we may see additional lower trade—we came off over $10,150. The trade back below $42,010 (-20 tics per/hour) has brought in $9,155 of the decent pressure we were looking for below. Decent trade above $42,270 (-20 tics per/hour starting at 5:00am) will project this upward $9,800 minimum, $12,000 (+) maximum. Despite trading lower as I write this, yesterday’s price action typically results in higher trade today. CLICK HERE FOR FULL BLOG.
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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