Bitcoin Daily Chart Alert - Bulls Working To Forge Market Bottom - July 5
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 near steady in early U.S. trading Thursday. Prices have since seen a good corrective rebound recently. More price gains in Bitcoin-U.S. dollar this week would negate the price downtrend on the daily chart to suggest a market bottom is in place. But right now the bears still have the overall near-term technical advantage. Stay tuned!