Ordinarily, I’d suggest buying bitcoin aggressively if it were to fall to 47,051, the midpoint Hidden Pivot support in the chart shown, and also to use the red line as a minimum downside target. However, the uptrend looked pretty feisty as last week ended, and so we shouldn’t rely on weakness to bring us bargain prices. If the opportunity should arise, though, a bid at 47,051 should be tied to a stop-loss at 41,954. If the order fills, I will provide updates to help you manage the risk. There are simple ways to cut initial risk by using lesser charts to fashion an entry trigger, so I’d suggest visiting the chat room for more-detailed guidance when appropriate. Meanwhile, a move above the 65,577 top of the bar I’ve circled would hint of a breakout and renewed upsurge. Upside potential over the next 4-6 months is 80,546. However, there will be risk down to 44,681, or even to 20,311, if sellers should decisively crack 47,051.
BRTI – CME Bitcoin Index (Last:63,212)
