Bitcoin has been a reliable indicator for the manic, speculative energy of this never-ending bull market, so its unusual weakness recently should be a concern on Wall Street. The pattern shown strongly implies that the selloff is headed down to at least 104,733. On this chart, price action already tripped a winning ‘mechanical’ short at 111, 293, which suggests the odds of a similarly tradable low occurring at the 104,733 target will be favorable. Please note that an alternative Hidden Pivot target at 105,548 could also engender a tradable bounce. You can try bottom-fishing in either place with a tight stop-loss fashioned from a small-chart trigger, or via your own method.
BTCUSD – Bitcoin (Last:108,651)
