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 pricesarehigher again in early U.S. trading Thursday. While serious technical damage wasinflicted in recent weeks and prices remain in a downtrend, the bulls havestabilized to market to begin to suggest a near-term bottom is in place. Still,it will take a move in prices above chart resistance at $10,000 to give thebulls some decent technical momentum. Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff