Bitcoin Daily Chart Alert - Bulls Have A Good Week - Jan 5
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price trend reversals. Jim's unique and exclusive daily technical report is an absolute must for any trader/investor/market watcher who closely follows Bitcoin.
(Kitco News) - Bitcoin-U.S. dollar bulls are having a decent week, as prices have moved significantly higher. A technically bullish weekly high close on Friday would give the bitcoin bulls good momentum heading into next week. Price action recently had created a potentially bearish symmetrical triangle. However, the gains this week have negated that chart pattern. Stay tuned!