Bitcoin Daily Chart Alert - This Week's Pause Not Bearish - May 3
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 slightly firmer in early U.S. trading Thursday. Chart consolidation following recent gains is featured so far this week. This week’s pause, or sideways price action, is not bearish. A price uptrend remains in place on the daily chart. The Bitcoin bulls still have the overall near-term technical advantage. Stay tuned! Jim Wyckoff