We’ll have a better idea of how long it might take for Bitcoin to reach the 129,978 target once we’ve seen buyers interact with the Hidden Pivot midpoint at 102,199. It can serve as our minimum upside objective for now, and also cue up a possible ‘mechanical’ entry. If the C-D leg of the pattern maintains its current pitch, a pullback to x from above the red line (102,199) would not be unusual. It could set up a juicy opportunity to get long or augment an existing position. _______ UPDATE (May 9, 3:55 a.m. EDT): Bitcoin’s poke on Thursday above a 102,355 ‘midpoint Hidden Pivot’ has shortened the odds that it will reach the 130,189 ‘D’ target. (Note: These numbers differ slightly from the price points given earlier.) Moreover, a pullback to x=88,362 (the green line), however unlikely, would trigger a juicy theoretical ‘mechanical’ buy, stop 74,419. Let’s wait and see how much the upthrust exceeds p on first contact. Two consecutive weekly closes above it would all but clinch more upside to at least p2=116,247.
BTCUSD – Bitcoin (Last:103,813)
