Bitcoin Aug. 30 chart alert—Bulls working to stabilize price

By Jim Wyckoff

Published:

Aug 30, 2022 - 12:35 PM

Updated:

Aug 30, 2022 - 7:13 PM

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(Kitco News) - Bitcoin-U.S. dollar prices are again a bit firmer in early U.S. trading Tuesday. Bulls this week are working to stabilize prices and break the price downtrend that is still in place on the daily chart. However, bears still have the overall near-term technical advantage. prices are a bit weaker in early U.S. trading Friday. Bears have the slight overall near-term technical advantage. The recent pause has produced a “collapse in volatility,” which suggests a bigger price move is on the horizon. Technical odds slightly favor that move being to the downside. Market prices tend to vacillate between periods of higher volatility and periods of lower volatility, and some higher volatility is now due. Stay tuned!

Bitcoin price holds support at $20K as the crypto market struggles to gain momentum

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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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.

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Bitcoin Aug. 30 chart alert—Bulls working to stabilize price

By Jim Wyckoff

Kitco News
The Leading News Source in Precious Metals

Jim Wyckoff

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news

Bitcoin Aug. 30 chart alert—Bulls working to stabilize price

By Jim Wyckoff

Kitco NewsThe Leading News Source in Precious Metals

Jim Wyckoff

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Share

Kitco News
The Leading News Source in Precious Metals