Bitcoin Daily Chart Alert - Pause, Or Bearish Pennant Pattern? - Apr. 30
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Editor's Note: Welcome to Kitco's 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 slightly firmer today. Recent price action has formed a minor bearish pennant pattern on the daily bar chart. However, if the bulls can push prices sideways the next couple days, that potentially bearish pattern would likely be negated and the bulls would gain some momentum. Price action the rest of this week will be extra important for Bitcoin traders. Stay tuned right here!