Bitcoin Daily Chart Alert - Bulls In Good Position - Aug. 9
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 higher in early U.S. trading Friday. Bulls have had a decent week and are where they need to be. The recent turmoil in the marketplace is showing that Bitcoin is considered by many to be a safe-haven asset. The Bitcoin bulls have the overall near-term technical advantage are working on a price uptrend on the daily bar chart. The path of least resistance for prices remains sideways to higher in the near term. Stay tuned.