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Bitcoin Daily Chart Alert - Bulls Stop The Bleeding, But More Work To Do - Nov 29

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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 again in early trading Thursday, on more short covering in the futures market and some perceived bargain hunting in the cash market. The Bitcoin bulls appear to have stopped the bleeding that pushed prices to more-than-12-month lows recently. However, the bulls have more heavy lifting to do in the near term to begin to suggest a price uptrend can be sustained and that a market bottom is in place. The bears still have the solid overall near-term technical advantage. There are still no early chart clues to suggest Bitcoin has bottomed out. Stay tuned!

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.

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