Bitcoin Daily Chart Alert - Recent Pause Not Bearish - Aug. 12
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 lower in early U.S. trading Monday. Trading has turned choppy and sideways recently but this pause is not bearish and suggests the bulls are just taking a rest before their next upside assault. The Bitcoin bulls have the overall near-term technical advantage are working on a price uptrend on the daily bar chart. Stay tuned.