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Bitcoin daily chart alert - Strong gains, new highs, but... - Jan. 8

Kitco News

Kitco News has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won't come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.

(Kitco News) - Bitcoin-U.S. dollar prices are strongly higher in early U.S. trading Friday and soared to another record high. While a strong price uptrend remains in place on the daily bar chart, the market has now gone parabolic, in trading parlance—meaning nearly straight-up price action. That type of rare price move in a market is one early technical signal that a near-term market top is likely to occur sooner rather than later. Still, the bulls have the solid overall technical advantage. Expect higher volatility on the upside and downside in the near term. Stay tuned!

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