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BRTI – CME Bitcoin Index (Last:57,705)

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Bertie turned and ran $4,300 from within $8 of the $55,652 target where I’d suggested tightly stopped bottom-fishing on Friday, turning this monster into a relatively easy trade.  That should end the correction, the nastiest we’ve seen since early September but by no means unusual. If the bounce continues, we can use this pattern to trade the little sonofabitch ‘mechanically’. My long-term rally target remains 89,780, a Hidden Pivot resistance with the potential to cap bitcoin’s amazing run. ______ UPDATE (Nov 23, 5:34 p.m. ET): Bertie is doing its vicious best to make sure as few bulls as possible are onboard for the next big rally.  Even so, p2=55,339 of this pattern looks likely to remain the lower limit of fright-mask feints and fakeouts.


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