We shouldn’t be too surprised if bitcoin mania resurfaces a fourth time following a brutal correction, but first it will need to visit sufficient pain on all of the yahoos who got their feet wet above $40,000 to make them think twice about doing anything so foolish again. Those who got in at much lower prices — for hundreds of dollars, even — will of course continue to sit tight, putting a floor under the cryptocurrency somewhere between $20k and $30k. For now, though, it looks like BRTI is about to test support for a third time at p=31,800 (see inset).  This Hidden Pivot has proven resilient enough to make its decisive breach no better than an even-odds bet, assuming BRTI gets there at all.  We’ll be watching in any event for signs that bitcoin’s most ardent, deep-pocketed sponsors are cocky enough to hold the line at 30,000, even if they don’t really have to just to prove something to skeptics. ______ UPDATE (Jun 21, 11:37 p.m. ET): Even though bitcoin has been down by as much as $3500 today, it looks well nigh invincible. China took a meat cleaver to bitcoin miners, and yet bears cannot even push this vehicle down to 30,000. Its deep-pocketed sponsors evidently believe that a test of that seemingly important number is so widely expected that it can’t happen because bears have already sold out. We shall see, but BRTI acts as though it is well under control and being accumulated at these levels. ______ UPDATE (Jun 22, 10:14 a.m.): This morning’s plunge made it clear that bitcoin-lovers are waiting for still-better prices. The decisive breach of p=31,800 AND 30,000 in one fell swoop implies BRTI will now fall to at least p2=26,422.  And yes, I am impressed at how They held it aloft for a full day of distribution AFTER the news from China was out.  ______ UPDATE (Jun 22, 11:51 p.m.): I was away from my desk when this rabid badger bottomed, but I plan to show how it triggered a ‘reverse abc’ buy signal in the process during Wednesday’s tutorial session. Don’t miss this class, because it will introduce a new set-up that is proving to be quite useful. _____ UPDATE (Jun 24, 7:55 p.m.): BRTI surged to within inches of the 35,433 rally target I posted in the chat room at 8:52 a.m., when it was trading for around 34,026. However, there were no pullbacks that would have gotten us long with a ‘mechanical’ bid. The target remains viable, as does the pattern noted, for purposes of locating a ‘mechanical’ bid at either p=33,886, or better yet x=33113.