Bitcoin Daily Chart Alert - Bears Remain In Technical Control - June 22
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 lower in early U.S. trading Friday and could be headed for a bearish weekly low close today. Bears are in firm near-term technical control. A bearish pennant or flag pattern has formed on the daily bar chart. A price downtrend also remains in place to suggest sideways-to-lower price action in the near term. Stay tuned!