Weakness in the broad averages finally sapped Bertie’s speculative juices, setting it on course for a corrective fall down to the 42,643 midpoint Hidden Pivot shown in the chart. The pattern may be a little obvious for a firm bid at the midpoint pivot, so we’ll substitute what we used to call a ‘counterintuitive’ entry with an rABC that will serve the same function, albeit with greater precision. I can’t recall the last time this vehicle corrected to a ‘D’ target, although we should be prepare for a plunge to p2=40,159 if p is easily breached. _______ UPDATE (Sep 14, 11:10 p.m.): Bertie’s deep-pocket sponsors are playing hardball with cautious buyers. This time they didn’t even let the dip get within $800 of my red-line bid. The tactic could impel more-urgent buying over the near term, but my hunch is that they are getting set up for a very nasty trap. In any event, we’ll step away for now, since the bearish pattern’s point ‘C’ high is about to get trashed.
BRTI – CME Bitcoin Index (Last:47,949)