Bitcoin is bullish short term 10/5/22

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On a high­er time­frame basis: The roll over on 11/10 put this into a bear­ish trend. I warned the sell­off should exceed $13,000 from the high of $69,355—we have seen $50,830 of this. The trade below $63,285 (+15 per/hour) has brought in $44,760 of the pres­sure warned about below. We held exhaus­tion on a bull­ish cor­rec­tion of the move down at $59,545 and rolled over $41,020. We have come off $32,480 from the $51,005 close. These are ON HOLD.

On a low­er time­frame basis: The trade below $45,920 brought in $17,725 of pres­sure. The trade below $43,140 warned of addi­tion­al pres­sure. We have seen $24,945. The fail­ure below $40,895 brought in $22,700 of the renewed weak­ness. The fail­ure below $38,160 warned of decent pressure—we have seen $19,965 of a $12,000 (+) max­i­mum. The decent trade below $34,830 put this below a sig­nif­i­cant bear­ish for­ma­tion that pro­ject­ed this down­ward $13,000 min­i­mum, $35,000 (+) max­i­mum. We have attained $16,635. On 5/9 we also left an addi­tion­al sig­nif­i­cant bear­ish for­ma­tion above, that warned of low­er trade for weeks. The trade below $30,115 has brought in $11,920 of pres­sure. The trade below $27,275 has brought in $9,080 of pres­sure. We held exhaus­tion at $25,265–495 with a $25,270 high and rolled over $6,910. We were in a bull­ish cor­rec­tion against the move down from $25,270, with an area of exhaus­tion at $22,630. We held this with a $22,875 high and rolled over $4,680. These are ON HOLD. We may have com­plet­ed the last stretch of the struc­ture down from $48,475–the trade above $18,360–195 warned of a ter­mi­na­tion of this struc­ture down and renewed strength—we $2,040 before rolling over and ral­ly­ing again to attain $2,175. The trade above $19,645 has brought in $890 of the strength warned about above. The trade above $19,953 (-4 tics per/hour) projects this upward $1,200 (+). The trade above $20,006 (-7 tics per/hour) also warns of high­er trade. If we break back below $19,880 (-4 tics per/hour start­ing at 6:00am) decent­ly, look for decent pres­sure.  CLICK HERE FOR BLOG ON WEBSITE. 

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. 

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