Last week’s fleeting thrust to a marginal new peak slightly altered the immediate picture. Expect Bitcoin to fall to at least 81,524, a midpoint Hidden Pivot support that can be used to bottom-fish with a small-pattern (i.e., ‘camouflage’) trigger. I doubt bears have the gumption to push this vehicle down to the 74,243 target, but the odds would shorten following a two-day close beneath p=81,523. Alternatively, if buyers get revved up and push this vehicle sharply the other way, they are apt to encounter tradable ‘voodoo’ resistance at 89,802. _______ UPDATE (Mar 29, 2:03 p.m.): I had scheduled the above to autopublish tomorrow (Sunday) afternoon, neglecting to consider that the little sonofabitch never sleeps. My 81,523 downside target did in fact catch the low of an $1100 bounce within one-tenth of a percentage point. I mention this belatedly because I didn’t want Bitcoin’s 24/7 histrionics to cheat me out of a damned good call.
BTCUSD – Bitcoin (Last:82,357)
