Bitcoin Daily Chart Alert - Price Recovery Continues - Feb 12
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 prices are higher in early U.S. trading Monday. While serious technical damage was inflicted in recent weeks and prices remain in a downtrend, the bulls have stabilized the market to suggest a near-term bottom is in place. It will take a move in prices above chart resistance at $10,000 to give the bulls some decent technical strength, however. Stay tuned!