Friday’s bounce from the red line (p=108,391) was faintly bullish within a cycle of weakness that has persisted for a month. It would take a push above 118,135 to clear a path to new record highs, albeit with no guarantees. More immediately, the number to beat is 112,207, a Hidden Pivot resistance associated with 118,135. A decisive move through it on first contact would ensure more upside to at least 115,171. Scalpers could get short there if they’ve profited on the way up. The foregoing could all be moot by the time you read this, since I am unable to determine whether Tradestation has been updating price data for this vehicle. It usually flows 24/7, but the most recent bar I have right now was recorded a day ago, on Saturday. The pattern I’ve used is such a good one, though, that I expect it to work out exactly as detailed above.
BTCUSD – Bitcoin (Last:110,174)
