Bitcoin Daily Chart Alert - Prices Power To 3-Wk High On Safe-Haven Demand - August 5
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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 sharply higher in early U.S. trading Monday, on safe-haven demand amid an escalating U.S.-China trade war and major protesting occurring in the streets of Hong Kong. Many speculate there is a flight of capital out of China, some of which is occurring via the purchasing of Bitcoin. The bulls have technical momentum and are working on a fledgling price uptrend on the daily bar chart. Stay tuned.