Bitcoin is bullish within overall bearishness 7/8/22 kitconews gold silver metals finance mining investing economics
On a higher timeframe basis: The roll over on 11/10 put this into a bearish trend. I warned the selloff should exceed $13,000 from the high of $69,355—we have seen $50,830 of this. The trade below $63,285 has brought in $44,760 of the pressure warned about below. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $41,020. We have come off $32,480 from the $51,005 close.
On a lower timeframe basis: The trade below $45,920 brought in $27,395 of pressure. The trade below $43,140 warned of additional pressure. We have seen $24,615 so far. The failure back below $40,895 brought in $22,395 of the renewed weakness we were looking for. The failure below the $38,160 line warns of decent pressure—we have seen $19,635 of a $2,000 minimum, $12,000 maximum.
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. Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits, or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results.
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