BTCUSD – Bitcoin (Last:83,578)

We’ve vested our confidence in a 91,358 correction target that was signaled more than a month ago, when Bitcoin fell from a record 126,296 on Oct 6 to a sell signal at 117,561 a few days later. This week’s update features an alternative at 89,864 that is nearly as likely to arrest the damage, at least for a while, as the higher number. As a practical matter, we can attempt tightly stopped bottom-fishing at either using a ‘trigger’ pattern extracted from a lesser chart. I expect a tradable bounce to come from within 0.2% of these Hidden Pivot supports, enabling us to hold entry risk down to perhaps $100-$200. Tune to the chat room for guidance if the opportunity gets close. _______ UPDATE (Nov 18, 10:10 p.m.): Bitcoin has turned higher from an 89,183 low that missed the target flagged above by 0.7%. The bounce so far  has traveled 4592 points to a so-far high at  93,775, but it will need to exceed 95,950 before bulls are out of short-term jeopardy. ________ UPDATE (Nov 21, 9:19 a.m.): Expect Bitcoin to continue falling to 72,808 before it turns around — and not for good. It will have shed 42% of its peak value at that point. A low there would generate a robustly bearish impulse leg on the weekly chart, something that hasn’t happened since a weak leg formed in May 2022, on the way down to 15.460. The implication is that whatever rally follows the low will be corrective and therefore a sale or short sale.