No fewer than six times have bulls gotten trapped on fake rallies since early July, and so they’ve finally given up. Friday’s breakdown implies the Sep Micro Bitcoin futures are now bound for a minimum 18.875. Trade this target with a bearish bias until the midpoint Hidden Pivot support is touched, then reverse the position using a ‘camo’ trigger on the 15-minute chart or less. A one-level move would be worth about $800/contract. If there is sufficient interest in the chat room if and when the trade approaches, I’ll furnish coordinates for doing this in real time. The switch from $BRTI to a vehicle that is actually tradeable rather than a prixy is intended to revive chat room interest in it. ______ UPDATE (Aug 24, 7:04 p.m.): A subscriber mentioned that each trade in this vehicle generates a rip-off commission of $7. Since there appears to be no respectable proxy to trade bitcoin, I’ll be thrilled to drop it from the list entirely. Someone suggested BITO, but there are gaps all over the chart, since it only trades during regular hours. For all the global blather and hubris, including by the banks, a good way to trade cryptos was never established. What does that say?
MBTU22 – Sep Micro Bitcoin (Last:21.425)