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Bitcoin June 20 daily chart alert - Bulls regain some strength

Kitco Media
By Jim Wyckoff
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Updated
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(Kitco News) - Tuesday, June 20--July Bitcoin futures prices are higher in early U.S. trading Tuesday, as the market has seen a good short-covering bounce after prices last week hit a three-month low. While the bulls have gained some strength, the BC bears still have the slight overall near-term technical advantage as a price downtrend is still in place on the daily bar chart. However, more price gains this week would negate the price downtrend and give the bulls better power.

BlackRock reportedly preparing to file an application for a Bitcoin ETF
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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