Bitcoin Mania 2.0 waxed so exuberant last week that I’ve hauled out a big-picture chart to show you what rabid buyers will be up against when business resumes in earnest Sunday night. My strong hunch is that they will make short work of the 21.63 midpoint Hidden Pivot resistance, putting a 39.50 target theoretically in play. The pattern is well up to snuff for creating bullish mechanical trade set-ups, although the implied $900 entry risk for some of them may call for tactical measures using our rABC workhorse. Stay tuned, because it’s going to be a bumpy ride. _______ UPDATE (Nov 24, 5:55 p.m. ET): The rally is now powerful impulsive on the weekly chart, unlikely to pull back to the green line to trip a ‘mechanical’ buy. That means we’ll need to improvise a more daring entry-on-the-fly, competing against a world that has gone crazy-bullish on bitcoin. Stay tuned to the chat room for intraday guidance, even if you are already aboard.
GBTC – Bitcoin Grayscale Trust (Last:22.35)