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Bitcoin Oct. 12 chart alert - Volatility remains absent

Kitco Media
By Jim Wyckoff
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Updated
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(Kitco News) - Bitcoin-U.S. dollar prices are slightly up in early U.S. trading Wednesday. Bulls and bears remain frustrated by the lack of daily price volatility in the market—despite heightened risk aversion in the general marketplace. Bulls are disappointed that Bitcoin has not been more attractive as a safe-haven asset the past several weeks. However, bears can’t seem to press their case to the downside as prices grind sideways. Bulls and bears are still on a level overall near-term technical playing field. That suggests more sideways and choppy trading in the near term. Stay tuned!

 

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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