I have little to say about Bertie, other than that it continues to be as interesting as a bowl of grits. Bitcoin’s deep-pocketed sponsors seem capable of maintaining a cruising altitude just below $30k indefinitely, and of popping it a few thou whenever conditions are right and they feel like mau-mauing skeptics. Although the May 12 spike down to $25k generated a quite powerful impulse leg, bears have been unable to do anything with it. For that reason, I am taking the obvious head-and-shoulders pattern as evidence that bitcoin is consolidating for a leap in a month or two to $65k or so, although not to new all-time highs. ______ UPDATE (June 11): Zzzzzzzzz. Head-and-shoulders pattern aside, I am unable to imagine a reason for such speculative fervor as that target would imply. It would reflective crazy-bullish sentiment that seems unlikely to return to securities markets for a long, long time. ______ UPDATE (June 12, 11:43 p.m.): I’d hate to be mistaken for a bitcoin bull just because I was fleetingly intrigued by an incipient head-and-shoulders formation that has turned to ca-ca with tonight’s so-far $4,000 dive. I’d put out a 14,751 target in May which remains valid. To restore my bear bonafides,  here’s a pattern with a 9507 target I’ll start liking if sellers shred the  midpoint Hidden Pivot support at 20,930. For now, that can serve as our minimum downside objective.