Bitcoin Daily Chart Alert - 2-Week High As Rebound Continues - Feb 14
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 and hit a two-week high in early U.S. trading Wednesday. While serious technical damage was inflicted on Bitcoin in recent weeks, the bulls have gained upside technical momentum 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 better technical strength, to then suggest an uptrend can develop on the daily chart. Stay tuned!