Bitcoin is bullish short-term 10/5/22
On a higher time frame: Roll over 11/10 put this into a bearish trend. I warned that sales would exceed $13,000 from the high of $69,355—we’ve seen $50,830 of this. The trade below $63,285 (+15 per/hour) has brought in $44,760 of the pressure warned of below. We held exhaustion on a bullish correction of the move down to $59,545 and rolled above $41,020. We have subtracted $32,480 from the $51,005 close. These are ON HOLD.
On a lower time frame: The trade below $45,920 brought in $17,725 in pressure. The trade below $43,140 warned of further pressure. We have seen $24,945. The failure below $40,895 brought in $22,700 of the renewed weakness. The failure below $38,160 warned of decent pressure – we’ve seen $19,965 of a $12,000 (+) high. The decent trade below $34,830 put this under a significant bearish formation projecting this below the $13,000 low, $35,000 (+) high. We have achieved $16,635. On 5/9 we also put a significant bearish formation over, which signaled lower trading for several weeks. The trade below $30,115 has brought in $11,920 in pressure. The trade below $27,275 has brought in $9,080 in pressure. We held exhaustion at $25,265-495 with a $25,270 high and rolled above $6,910. We were in a bullish correction against the move down from $25,270, with an exhaustion area at $22,630. We held this with the $22,875 high and rolled above $4,680. These are ON HOLD. We may have completed the last stretch of the structure down from $48,475 – the trade above $18,360-195 warned of an end to this structure down and renewed strength – we $2,040 before rolling over and rallying again to reach $2,175. The trade above $19,645 has brought in $890 of the strength warned of above. The trade above $19,953 (-4 ticks per hour) projects this upwards of $1,200 (+). The trade above $20,006 (-7 ticks per hour) also warns of higher trading. If we break back below $19,880 (-4 ticks per/hour from 06:00) decently, look for decent pressure. CLICK HERE FOR WEBSITE BLOG.
NOTE: this is just a small portion of the market calls I give my clients twice daily in the natural gas and energy/gold complex. ‘Decent penetrations’ are specific amounts that are also given to clients daily. If you are interested, please get in touch.
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