Bitcoin Daily Chart Alert—Downtrend Has Bears in Control
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 slightly higher in early U.S. trading Thursday. Bears still have the overall near-term technical advantage as a fledgling downtrend line is in place on the daily bar chart, to suggest the path of least resistance for prices will remain sideways to lower in the near term.
I will be THE FIRST to notify you on potential near-term price trend changes, so stay tuned!