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Bitcoin daily chart alert - Upside breakout fuels the bulls - May 31

Kitco Media
By Jim Wyckoff
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(Kitco News) - Bitcoin-U.S. dollar prices are solidly higher in early U.S. trading Tuesday and have hit a three-week high. Prices have seen a bullish upside "breakout" from the recent sideways and choppy trading range on the daily chart. I alerted early last week that  the recent "collapse in volatility" phenomenon suggested a much bigger price move was on the horizon, and it occurred early this week. Bulls have gained upside momentum to suggest more price upside in the near term. Stay tuned!

Bitcoin back above $30K following nine-week losing streak
Kitco Media

Jim Wyckoff

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

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