BRTI – CME Bitcoin Index (Last:19,922)

This doomed short squeeze will face no challenge until it hits the 21,288 ‘external’ peak shown. The rally probably has enough momentum to get past it, but that would do little to allay my skepticism that Bertie is going anywhere.  A ‘voodoo number just above 22,000 is where we might try to get short, via an rABC trigger that would risk perhaps 10-15 points on a stop-loss. However, if buyers get past that level easily, they would likely be on their way to 24,000, another place where we can attempt to get short with a penny-ante stop-loss. Stay tuned to the chat room or ‘Notifications’ for more-precise guidance if an opportunity should arise. ______ UPDATE (Jan 18): Bitcoin’s unsustainably steep bear rally is rumored to have been driven by sovereign demand from the U.S., Canada and the Philippines to meet the ransom demands of whoever hacked their air traffic systems recently. This can’t end well.