Bitcoin is short-term bearish within upward consolidation 8/15/22
On a higher time frame: The transition on 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 received $32,480 from $51,005 closing. 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 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 that projects this down $13,000 minimum, $35,000 (+) maximum. We have achieved $16,305 so far. These are ON HOLD. These are OFF HOLD. We held exhaustion below at $18,165-$7,290 with a low of $18,525, gaining $6,455. The trade above $22,835 (-11 per/hour) has brought in $2,145 in strength. We held possible exhaustion at $22,520-290 with a low of $22,405 and a rise of $2,575. The trade above $23,235 (+10 ticks per hour) warns of renewed strength – we’ve seen $1,745 so far. These are ON HOLD. We held exhaustion at $25,265-495 with a $25,270 high and rolled above $1,380. 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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