Bitcoin Daily Chart Alert - Bulls Keeping Foot On The Gas - August 6
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 Tuesday but did hit a three-week high overnight. Safe-haven demand for the crypto continues amid an escalating U.S.-China trade war. 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 price uptrend on the daily bar chart. Stay tuned.