$BRTI – CME Bitcoin Index
|Bitcoin tripped a ‘buy signal on Friday at 16,045 for a bull play to as high as 22,104 over the next 2-3 weeks. These prices are based on CME’s Bitcoin Real-Time Index, which tracks the order books of numerous constituent exchanges. The chart shown, with the Tradestation symbol $BRTI, indicates minimum upside over the near-term (i.e., 2-4 days) to 18,065, the ‘midpoint Hidden Pivot’ of the ABC rally pattern. Ordinarily we do not use ‘raw’ buy or sell signals such as the one noted above to initiate trades; rather, we convert them to proprietary ‘mechanical’ trades that rigorously control risk:reward in a 1:3 relationship.
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