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

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. If you don’t subscribe but want to join in the fun, click here for a two-week free trial to Rick’s Picks, including access to a 24/7 chat room that draws great traders from around the world.