Bitcoin Daily Chart Alert - Bulls Stabilize Prices At Mid-Week - July 31
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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 futures prices are near steady in early U.S. trading Wednesday. Bulls have stabilized the market so far this week. But they need to step up and show some significant power soon to avoid serious chart damage being inflicted. A drop in prices below the July low, which is close by, would produce serious technical damage to suggest a sustained price downtrend. Stay tuned.