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 areslightly higher in early U.S. trading Monday. Prices early this week areposting a corrective rebound from recent selling pressure. The bears still havethe overall near-term technical advantage. However, more price gains this weekwould begin to suggest a bullish head-and-shoulders bottom reversal pattern hasformed on the daily bar chart.Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff