Bitcoin (BTC): Nov 25 2014

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BTC nov 25 (1)

Here is today’s BTC chart. There is clearly a larger channel the price is staying within on the current bullish move heading into the holiday season. The smaller channels provide a trading range for day traders, and the larger main channel for longer term traders. The 1D Heiken-Ashi is very close to turning green too. I am not proving any price predictions of sorts today, more so providing the visual of the channels you should be trading.

The last predictions have played out almost perfectly. Let’s revisit the trend before closing out the post.

On Nov 20 2014 it seemed clear that a protracted deadcat bounce on the 1D was shaping up, and we pointed to the shape of the first wave incoming. (below)

BTC nov 20 (2)

Then one day later, after a nice pivot, the range became evident. It topped out 2% higher than I expected on BTC-e, but we play the channels over the course of time, not hard targets a week out. Overall, it was nice to see the price action correlate to the expectations.

btc nov 21

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