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 futures prices are slightly up in early U.S. trading Monday. Prices are well up from last week’s low, which is a positive for the bulls. However, they have much work to do to restart a price uptrend. Right now it appears Bitcoin has put in at least a near-term market top. This week’s trading action in Bitcoin will be extra important. Stay tuned.
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