BRTI – CME Bitcoin Index (Last:43,379)

With stocks sharply on the rise last week, bitcoin bears turned unsurprisingly docile. Most bitcoin, a bazillion satoshis’ worth, is in the hands of machers who have no plans to sell under any circumstances. That leaves only a relative handful of foolhardy pessimists who seem to think they can turn a profit betting the ‘Don’t Pass’ line in a vehicle completely dominated by strong hands.  When conditions are  right, such as now, all that’s needed for Bertie to soar is for what little supply that is sitting on the books to disappear. In the week ahead, look for an effortless ascent to the 42,558 ‘D’ target, telegraphed by an impaling thrust through p=40,172. ______ UPDATE (Feb 28, 8:14 a.m. EST): Gratuitous chop on Friday altered the pattern, lowering the rally target to 41,982, but it remains bullish.  It will still take a decisive push though the new midpoint pivot at 39,509 to clinch an easy ride to ‘D’. ______ UPDATE (Feb 28, 8:59 p.m.): We’ll spectate for a while as BRTI disembowels doubters. The rally will achieve a minimum 47,191 for certain (60-min, A=  33,044 on 1/24).