Bertie uncoiled Friday like a cobra trying to snatch a bird from the air. To leave no doubt about intentions, DaBoyz closed Birdie above the 48,000 ‘midpoint pivot’, a preliminary sign that it’s on its way to the 55,822 target. The pattern is a good one for ‘mechanical’ trades, especially since only one such signal has failed over the time I’ve tracked this vehicle. For now, use p2=51,928 as a minimum upside target, and don’t be surprised if it gets there before you’ve had time to plot a strategy. You weren’t actually going to trade it anyway, though, were you? Indeed, at these levels, the Big Boys have this creature of the imagination all to themselves. ______ UPDATE (Oct 6. 8:36 p.m.): What a shock. Bertie has traded up to 55,747 tonight, a tenth of a percentage point from a 55,822 target (see above) that might have seemed a tad ambitious to some old-school speculators. Let’s see whether bitcoin’s book-talking, fat-cat sponsors idle ostentatiously for a day or two before they announce to the world that new record highs are coming.
BRTI – CME Bitcoin Index (Last:55,063)
