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Editor’s Note: Welcome to Kitco’s Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price trend reversals. Jim’s unique and exclusive daily technical report is an absolute must for any trader/investor/market watcher who closely follows Bitcoin.
(Kitco News) – Bitcoin-U.S. dollar prices are slightly up in early U.S. trading Wednesday. The market is pause from recent solid gains, which is not bearish and suggests the bulls are just taking a rest before the next upside assault. Bulls still have the solid overall near-term technical advantage to suggest more upside price action in the near term. There are no early technical clues to suggest this market is close to topping out. Remember to stay tuned right here because that’s where you’ll get more of those early chart clues on price trend changes, or price acceleration!
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,…