Source: feeds.feedburner.com

CME Bitcoin Real-Time Index ($BRTI)


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It"s no secret that Bitcoin is amidst its biggest net dollar gaining session ever.- Just when it seemed like Bitcoin price action couldn"t get any crazier.... Flirting with a potential $2,000+ daily gain (at publishing), Bitcoin just pushed above $14k on the $BRTI.- For those unfamiliar with the $BRTI, you"ll hear about it a lot more after December 18th, when the CME Bitcoin Real-Time Index-based Futures go live.


Even though CBOE futures go live on December 10th, no trader knows which Bitcoin futures contract will become the king of the coin - ala ES E-mini S-amp;P 500 futures.- Although the frenzied price action of this behavior seems bonkers, it is par for Bitcoin"s course.- As crazy as this price action is, if we don"t press publish by the time we think about what"s happening next, it"s going to be up or down another 500 fiat $USD.


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Bitcoin price action right now is about as lit as the Windows 95 launch party:

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http://www.youtube.com/v/lAkuJXGldrM



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$BRTI 1-Minute


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$BRTI 5-Minute


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$BRTI 15-Minute


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fibozachi brti bitcoin 15 minute dts


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Where is Bitcoin heading right now?


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Most likely up.- A lot higher.- On its way to eclipsing JPMorgan"s and other banks market capitilizations.- Why?- Because Bitcoin is an "extinction event" for Wall Street banks and fiat currency.


At the time of writing, Bitcoin is trying to regain $14,000, though by the time we press publish it may have scored another touchdown and be pushing $21K.


Lame as JPMorgan"s JamiesGeniusDaughtersDad fraudulently calling Bitcoin a fraud... though the TD Bank quip above may not be a joke, we can"t even begin to guess where long-term upside targets may lie, nor can or should any market technician pretend to.- What we can forecast based upon technical analysis is that if Bitcoin- ever- turns down and cools off, it will likely find support at $12,840, with- extremely strong support at $11,750-12,000 and $11,000.


Bitcoin, Blockchain, or if you"re a Wall Street bankstah "the Bitchain", is an extinction event for modern finance, 20th century banking, and fiat currency.


While we and every single person alive will have a lot of opinion about it today, tomorrow, and throughout the 21st century – for now, it is naptime, Mmmm.


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