Bitcoin is bullish short-term 7/29/22
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 are down $32,480 from the $51,005 close. These are ON HOLD.
On a lower time frame: The decent trade below $45,920 (+23 ticks per hour) gave pressure at $27,395. The decent trade below $43,140 (-3 ticks per hour) signaled further pressure. We’ve 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 (+ 3 ticks per/hour) line warns of decent pressure – we have seen $19,635 of a $2,000 minimum, $12,000 (+) maximum. The decent trade below $34,830 (+1 tick per/hour) puts this under a significant bearish formation which projects this down $13,000 minimum, $35,000 (+) maximum. We have achieved $16,305 so far. On 5/9 we also exited another significant bearish formation above, which signaled lower trading for several weeks – we have held for 8 weeks so far. The decent trade below $30,115 (+9 ticks per/hour) projects this downside minimum of $1,975. We have achieved $11,590 of this so far. The trade below $27,275 warned of pressure – we’ve seen $8,750 so far. These are ON HOLD.We held exhaustion below $18,165-$7,290 with a low of $18,525 and a gain of $6,095. The trade above $22,365-550 has brought in $2,070 of the strength that was warned about. The decent trade above $22,835 (-11 per/hour) should bring in decent strength. We’ve seen $1,785 so far. If we break back below decent, 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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