Bitcoin Daily Chart Alert - Bullish Chart Pattern Develops - Feb 27
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 prices arehigher in early U.S. trading Tuesday and have stabilized the market after somerecent moderate selling pressure. Recent price action has now formed a bullflag pattern, which suggests the next big price move will be on the upside. Thenext key upside technical target for the bitcoin bulls is pushing prices abovestiff chart resistance at the February high of $11,780. Stay tuned!
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