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Buttcoin continues to tease its fans, by hanging around 20,0000 while inexorably headed for its measured move target of 5000 below zero.

That’s a weekly bar chart on an arithmetic scale. Cool, huh?

Now the daily chart is less dramatic, but even it points to 13,000 on the basis of a Hurst one year cycle projection.

What might cause a change of outlook there? For starters a rally that broke through and sustained above 23,000. Failing that, this con is headed toward the black hole singularity.

Technical Trader