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Bitcoin June 28 daily chart alert - Bullish pennant pattern in play

Kitco Media
By Jim Wyckoff
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(Kitco News) - Wednesday, June 28--July Bitcoin futures prices are a bit weaker in early U.S. trading Wednesday. Prices earlier this week hit a contract high. The bulls have the solid overall near-term technical advantage as a steep price uptrend is in place on the daily bar chart. A bullish pennant pattern has also formed on the daily chart. Bulls have momentum to suggest more price upside in the near term.

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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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