Bitcoin Daily Chart Alert - Bulls Try To Stabilize Market - Jan 12
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 are higher Friday as the bulls are working to stabilize the market after the strong selling pressure seen most of this week. Still, this week’s downdraft has inflicted serious technical damage, to suggest still more downside pressure in the near term. The bitcoin bears are still eyeing pushing prices at least down to the December lows, if not lower, in the near term. Stay tuned!