Got guts? Bertie would become a fetching ‘mechanical’ buy if last week’s pullback continues to the red line (p=59,302). My immediate objective thereupon would be p=74,541, with a shot at D=89,780, That last number seems like an excellent prospect to deliver a blow-off top in this vehicle. I will track the trade just to keep the record up-to-date. (I note that only one buy recommendation has gotten stopped out since Rick’s Picks began touting bitcoin more than a year ago.) The stop-loss on the ‘mechanical’ trade would be at exactly $49,143, implying entry risk of a tad more than $10,000 per unit. We can attempt to whittle it down to perhaps $300-$700 using a ‘camouflage’ trigger, but that will be possible only in real time. A keen show of interest in the chat room would be needed to enlist my help, since this project could become labor-intensive. _______ UPDATE (Oct 26, 9:12 p.m.): I’ll suggest backing away from the red line and putting your bid down at x=44,063, the green line. That is how the conventional ‘mechanical’ trade is typically set-up, and it’s less risky than a red-line entry. If Bertie seems reluctant to come all the way down, we’ll deal with that when the time comes. We may attempt another type of entry altogether — one that wouldn’t require so sharp a pullback — so stay close to the chat room and let me know of your interest if you seek guidance.
BRTI – CME Bitcoin Index (Last:60,759)
