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Bitcoin's Crazy Dance a Step Ahead of Bloomberg, as Usual

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Posted by Rick Ackerman

on Tuesday, 02 January 2018 06:50

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Bitcoin’s crazy shenanigans are making the news media’s attempts to keep up with them seem pathetic. Bloomberg’s latest update, from four hours ago, has trumpeted the headline Bitcoin Starts a New Year by Tumbling, First Time Since 2015.  In actual fact, after trading moderately lower on the opening bar of 2018, one popular bitcoin vehicle, $BRTI, is currently up $263, at 13,849. Ordinarily Rick’s Picks would suggest using a ‘mechanical’ entry to short the little sonofabitch if the rally hits $14,277, using a stop-loss at 16,477. We’ll pass this time, however, and resume actionable guidance after traders have had a few days to shake off mind-dulling excesses of holiday food, libations and festivity. Stay tuned if you care — and please note that all real-time trading recommendations will be published here first, then at FXStreet.com as soon as they can get to them. 


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