Bitcoin continued to idle as it turned midpoint resistance at 59,302 into a launching platform for a shot at 89,780. We are unlikely to see the severe pullback required to set up a ‘mechanical’ buy of daily-chart degree, so any attempt to get aboard would be a labor-intensive project on the lesser charts. Please nudge me in the trading room if you have an entry set-up you’d like vetted. In the meantime, you can use p2=74,541 as a minimum upside projection for the near term. _____ UPDATE (Nov 10, 1:16 a.m.): The glue sniffers are back, allowing bitcoin’s shark-tank sponsors to waft an effectively bidless Bertie as high as 68,510. It’s not as though the 89,780 target was ever in doubt. _______ UPDATE (Nov 11, 11:22 p.m.): Today’s hellish plunge did only slight damage to the bullish big picture, although it did create a robust impulse leg on the hourly chart. Here’s a pattern obscure enough to work nicely. Use it with confidence for ‘mechanical’ shorting or bottom-fishing at p2 and/or D.
BRTI – CME Bitcoin Index (Last:64,603)
