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 Monday, on a corrective rebound from recentselling pressure. The bears still have the overall near-term technicaladvantage. However, more price gains this week would begin to suggest a bullishhead-and-shoulders bottom reversal pattern has formed on the daily bar chart. Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff