Make Kitco Your Homepage

Bitcoin daily chart alert - Sideways price action slightly favors bulls - Dec. 31

Kitco News

Editor's Note: 2020 is expected to be another year of significant uncertainty and turmoil. But the question is what asset will emerge the victor when the dust settles from the global trade war, Brexit, recession threats, negative bond yields. It's a showdown of global proportions, so don't miss all our exclusive coverage on how these factors could impact your 2020 investment decisions.

(Kitco News) - Bitcoin-U.S. dollar prices are near steady in early U.S. trading Tuesday. The holiday season is making for quieter dealings, but the bulls have recently stabilized the market amid choppier and sideways trading. Recent price action has produced a bullish double-bottom reversal pattern on the daily chart, which suggests a market bottom is in place. Bulls and bears are presently fighting for near-term technical control, with the sideways price action recently just slightly favoring the bulls. Stay tuned.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.