Bertie has turned leaden, transforming a once-exciting chart into one that might be mistaken for that of a company in the hosiery business. The bitcoin proxy bounced nearly $5000 from within a split hair of a Hidden Pivot at 39,805 that I’d drum-rolled, but the move lost steam last week, portending a possible test of the 39,666 low. ETHE, a vehicle traded in lieu of this one, looks even worse, having broken the neckline of a head-and-shoulders pattern projecting to as low as $20; it currently trades for around 27.50. The subsequent rally has been weaker than we might have expected, but we’ll give DaBoyz another crack at it this week, since all they’ve got to do to make bitcoin scream is step away from the offer for a day or two. ______ UPDATE (Jan 20, 7:54 p.m.): Here’s a fresh view with a 37,275.61 downside target. The pattern is sufficiently gnarly that you can expect it to work no matter what your purpose.
BRTI – CME Bitcoin Index (Last:41,059)
