Make Kitco Your Homepage

Bitcoin is Bullish

Commentaries & Views

Chart, histogram  Description automatically generated 

Bitcoin is Bullish Unless we Fail Back Below Formation Below 3/1/22

On a higher timeframe basis: The roll over on 11/10 put this into a bearish correction/trend against the move up from $28,800. I warned it should exceed $13,000 from the high of $69,355—we have seen $36,500 of this. The decent trade below $63,285 (+15 per/hour) has brought in $30,430 of the decent pressure warned about below. These are ON HOLD.

On a lower timeframe basis: We held extension exhaustion at $34,550-355 with a $34,295 low and rallied $9,100 into a new bullish structure. I also warned trade back above $36,340 would warn of an early end to the downward structure and entry into a bullish correction/trend—we have seen $7,595.The decent trade above $42,375 (-12 per/hour) projects this upward $9,000 (+).Decent trade below $42,930 (-9 per/hour starting at 6:00am) will warn of decent pressure. CLICK HERE FOR FULL BLOG. 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.