Bitcoin is bullish short term 10/5/22

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.