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Bitcoin August 3 daily chart alert - Sideways trading this week

Kitco Media
By Jim Wyckoff
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(Kitco News) - Thursday, August 3--August Bitcoin futures prices are near steady in early U.S. trading Thursday. Recent price action has negated a price downtrend line on the daily bar chart, to give the bulls a bit of momentum. Still, bulls and bears are on a level overall near-term technical playing field at present. That suggests more sideways and choppy trading in the near term.

No soft landing means 'we take out the all-time highs on gold by year-end' while equity collapse could drag Bitcoin below 15k - Gareth Soloway
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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