Although we might have expected Bertie to get some respite after completing a head-and-shoulders pattern over the last ten months, it is instead breaking down again. Mid-May’s breach of an important Hidden Pivot midpoint support at 31,434 hinted that bitcoin’s long dirge since peaking near 70,000 last November is not over. However, the May 12 stab beneath the H&S pattern’s ‘floor’ implies things may be even worse than they had seemed. Accordingly, we’ll stick with the 14,751 target for now while allowing for the possibility of a tradeable bounce from p2=23,092. For now, you can use that secondary pivot as a minimum downside target. _______ UPDATE (May 31, 11:03 p.m.): Bertie’s bullish wilding spree may have seemed impressive, but it noticeably failed to exceed the middling ‘external’ peak shown in this chart.  This is a subtle sign that the rally is unlikely to get legs, so be prepared.