Bitcoin May 21 daily chart alert - Uptrend is the bulls’ friend

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.

- Tuesday, May 21—May bitcoin futures prices are higher and hit a five-week high in early U.S. trading Tuesday. The bulls have the firm overall near-term technical advantage as prices are now in an uptrend on the daily bar chart. The path of least resistance for prices is now sideways to higher in the near term. See the technical support and resistance lines on the chart. Wyckoff’s Market Rating: 7.0 .

has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the"Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected"Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.comThe views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only.

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