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Bitcoin Daily Chart Alert - BOOM! Price Explodes To A New High - Dec. 15

Kitco News

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 on Friday exploded out of its recent trading range and set another new record high. Today’s strong upside price action suggests another steep leg up in prices in the near term. There are still no early, strong chart clues to suggest a market top is close at hand. The bulls have the technical power to continue to push prices higher and keep the uptrend alive.  It will take a move in Bitcoin-U.S. Dollar price below $13,000 to begin to seriously dent the bulls’ technical power.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.