Bitcoin’s bold rally warrants a drum-roll, since it narrowly exceeded a long-term Hidden Pivot target at 7353 on Wednesday with the greatest of ease. This all but clinches more upside at least to the next, 7562, as far as I’m concerned. Both of these ‘hidden’ resistance points were proffered earlier on the Rick’s Picks home page, and no one who follows my touts should be surprised at how quickly Bitcoin chewed through not just the pivots, but presumably daunting round-number resistance at 7000. Now, if buyers shred their way past 7562, they would warning bears and skeptics to dive for cover and shut up. My gut feeling is that the 7562 resistance will give way easily, considering the effortless push past 7353 that has just occurred. It is the highest projection I can offer using the daily chart. We’ll have much better price information shortly, by the way, since the CME is putting the finishing touches on a Bitcoin futures contract slated to begin trading before 2018. With the much greater liquidity and price history this speculative vehicle will provide, I should be able to improve very significantly on the accuracy and usefulness of my forecasts._______ UPDATE (Nov 12, 6:06 p.m.): Last week’s record-high 7521 fell just shy of the 7562 target given above. My gut feeling is that the target will be achieved, and soon, but buyers would need to push this vehicle easily past it to suggest they’ve got the moxie to keep driving bitcoin steeply higher in November. Click here for a free, two-week trial subscription that will allow you to stay on top of Bitcoin and other trading vehicles in a precise way that you may never have imagined possible. And click here if you want to learn how to do it yourself. This will be the last class offered before I move to a new format, so don’t miss this opportunity to take the ‘classic’ Hidden Pivot Course at a great price.
