Editor's Note: Welcome to Kitco's new 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 pricesare slightly higher and hit another five-week high in early U.S. trading Thursday.The bulls have good upside technical momentum. A bullish head-and-shouldersbottom reversal pattern has formed on the daily bar chart, to suggest a market bottomis in place and that prices can trend at least sideways in the near term, ifnot sideways to higher. Stay tuned!
By Jim WyckoffFor Kitco News
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