Search

Bitcoin is Bearish 10/27/21


On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and rallied $38,880. This is ON HOLD.


On a lower timeframe basis: I NOTED: The break back below $65,520 is a WARNING we may see decent pressure which could last for days/weeks. We have seen $7,665 so far. This bias will be negated with trade above $67,680. We were in a bullish correction against the move down from the highs and held exhaustion at $63,945 with a $63,865 high and rolled over $6,010 to start a new lower timeframe bearish move to the downside. I warned today will likely see range expansion—we have already exceeded yesterday’s range on GLOBEX. The decent penetration below $60,430-15 has brought in $2,560 of the decent pressure we are now looking for below. NOTE: IF this is a bearish correction against the move up from $40,085, there are areas of possible corrective exhaustion to contend with on the way down at $57,950-6,395 (which we are currently holding with a $57,855 low), $54,295-3,880, and lower. If this is a higher timeframe trending structure, these may provide only temporary support on the way down. If it is a corrective structure, one of these is not scheduled to hold more permanently until 11/1/21. Decent trade above $60,640-65 should bring in decent strength. Decent trade above $61,555 (-55 per/hour starting at 9:00am) will project this upward $4,000 (+) minimum; but if we break above here decently and back below decently, look for decent pressure.


NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Bitcoin 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. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor