Friday’s robust upturn came from within 156 points, or less than 1%, of the 19425 correction target shown (see inset). That put it slightly out of range for bottom-fishing, at least via our usual methods, but the 700-point rebound that ensued suggests the uptrend has the potential to get legs. The smart money trapped in bitcoin at much higher prices will not be able to push the recovery too aggressively, however, since it is not short covering that drives rallies in bitcoin these days, but rather the absence of selling pressure, particularly when the stock market is on a bullish tear. I won’t update this tout unless something significant happens, but I will respond diligently to any queries in the chat room.