Bitcoin is in consolidation 9/28/21


On a higher timeframe basis: We held exhaustion above with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $36,720 so far. This is ON HOLD.

On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $24,325. I warned that holding the exhaustion area and settling back above the $30,205 low was an early warning the macro move down from the high was likely over. This is ON HOLD. I warned of key possible exhaustion above at $53,275-390—we came just shy of this with a $53,125 high and rolled over $13,040. The break back below $50,460-55 brought in $10,370 of the decent pressure warned about below, putting this in a bearish correction/trend against the move up from $29,220. The decent trade below $45,925 (-10 tics per/hour) has brought in $5,840 of the pressure warned about so far. NOTE: I would be AWARE that we have areas of possible corrective exhaustion to contend with at $38,655-350, $37,325-6,810, $34,355, and lower. We held the higher with a 40,085 low, and again with a $40,145 low and bounced over $5,000 before rolling over. Decent trade below $41,245 (+10 per/hour starting at 9:00am) will project this downward $3,500 minimum, $7,535 (+) maximum. Decent trade above $43,775 (-20 per/hour starting at 9:00am) should bring in decent strength; but if we break above here decently and back below decently, look for decent pressure. Today has a good likelihood of seeing range expansion.  CLICK HERE FOR FULL ARTICLE. 

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. 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



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



Source link