Bitcoin is bullish but nearing exhaustion 08/23/21

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Over a longer period of time: We have held depletion above $ 64,735 to $ 66,145 with a high of $ 65,520 which I believe could lead to a correction above $ 11,000. We’ve seen $ 36,720 so far, but this “correction” also has a trend structure. I said the decent breakout below $ 59,740- $ 685 would warn of some pressure to come. We’ve seen $ 30,885 so far. The spread held down on 04/19 hinted at a short-term bearish reversal above. We have reached $ 28,310. Decent trading below $ 58,080 (-10 per hour) generated $ 29,270 of renewed pressure. Decent trading below $ 53,965 (+10 per hour) projects that $ 4,300 low on the downside, $ 6,700 (+) high. We have reached $ 25,155. Decent trade below $ 47,535 (+25 per hour) predicted this low downward of $ 3,600, high of $ 10,600 (+). We hit $ 18,725 before hedging the low short. These are PENDING.

On a lower time basis: We held depletion below at $ 29,075-6,905 with a low of $ 28,800 and rebounded from $ 21,730. Decent trade returning above $ 30,810 (-5 per hour) has brought in $ 19,755 from the strength cautioned above so far. Decent trading above $ 30,600 (-25 per hour) brought in $ 19,930 from the strength cautioned above. Decent trade above $ 32,035 (-15 per hour) projects that $ 3,500 (++) rise. We have reached $ 18,495. Decent trade above $ 41,590 to $ 605 projects this rise to $ 4,200 minimum, $ 12,300 (+) maximum. We have reached $ 8,925. If we go back below in a decent way, look for a decent pressure. Decent trade above $ 45,350 (-30 per hour) has warned of decent strength, we’ve seen $ 5,180 so far. If we go back below in a decent way, look for a decent pressure. I would also like to warn that a breakout below $ 48,100-005 will warn against pressure. A decent trade below $ 45,570 (+30 per hour from 9:00 a.m.) will project that down to $ 5,200 minimum, $ 8,400 (+) maximum. I would be aware that we are approaching a key exhaustion area at $ 50,700-1,495 that we could see a decent rejection from the upside.

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NOTE: This is only a small portion of the market calls that I provide to my clients twice a day in the Natural Gas and Energy / Gold complex. “Decent penetrations” are also specific amounts provided to clients on a daily basis. If you are interested, please do not hesitate to contact us.

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