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Bitcoin is Bullish 6/15/21


On a higher timeframe basis: We held exhaustion above at $64,735-$66,145 with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $35,315 so far, but this ‘correction’ also has a trending structure to it. The decent break below $59,740-685 I said would warn of pressure to come in. We have seen $29,480 of this so far. The maintained gap lower on 4/19 left the short-term bearish reversal above warned about. We have attained $26,905. The decent trade below $58,080 (-10 per/hour) has brought in $27,865 of renewed pressure. The decent trade below $53,965 (+10 per/hour) projects this downward $4,300 minimum, $6,700 (+) maximum. We attained $23,750. The decent trade below $47,535 (+25 per/hour) projected this downward $3,600 minimum, $10,600 (+) maximum. We attained $17,320 before short covering off the low. These are all ON HOLD.


On a lower timeframe basis: We held exhaustion with a $30,205 low and rallied $10,395. The decent trade above $35,820 (+7 per/hour) has brought in $3,985 of the strength warned about so far. The decent trade above $36,510 (-20 per/hour) projects this upward $5,160 minimum, $7,000 (+) maximum. We have attained $5,250. Decent trade below $37,445 (-10 per/hour starting at 9:00am) should start to bring in decent pressure. Decent trade back below $35,230 (-20 per/hour starting at 9:00am) should bring in further pressure and I would take the bear calls from above OFF HOLD at that point.


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.

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