Bitcoin Daily Chart Alert - High Octane Bulls Shift Into Overdrive - May 14
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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 higher again Tuesday and hit another 10-month high in early U.S. trading. The bulls have solid technical power to suggest still more price gains in the near term, amid an accelerating price uptrend in place on the daily bar chart. There are still no early chart clues to suggest a near-term market top is close at hand. Still, it would be healthy for the bulls to see this parabolic price move see a pause and some consolidation, to keep the uptrend alive. Stay tuned right here because that’s where you’ll get more of those early clues on price trend changes!