Bitcoin Daily Chart Alert - Bulls Trying To Stabilize Market - April 9
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 modestly higher in early U.S. trading Monday. Bitcoin bears still have the firm overall near-term technical advantage. Strong chart support lies just below the market. More selling pressure in Bitcoin this week would open the door to another leg down in prices. Bulls need to stabilize the market this week. Stay tuned! Jim Wyckoff