Bitcoin Daily Chart Alert - Prices Power To 7-Week High - July 23
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 seven-week high in early U.S. trading Monday. The bulls have good upside technical momentum. A bullish head-and-shoulders bottom reversal pattern has formed on the daily bar chart recently, and now a price uptrend is in place, to suggest sideways-to-higher price action in the near term. Stay tuned!