Bitcoin Daily Chart Alert—Bulls Work To Stabilize Market
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 firmer in early U.S. trading Tuesday. Bulls are trying to stabilize prices after the recent selling pressure. Bears still have the overall near-term technical advantage, so the path of least resistance will still be sideways to lower—until a bullish chart clue suggests otherwise.