Bitcoin Daily Chart Alert - Bears Back In Control - Aug 6
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 and hovering near Friday’s three-week low in early U.S. trading Monday. The bears have regained the overall near-term technical advantage amid the recent steep price downdraft. Significant near-term technical damage has been inflicted to suggest more downside pressure. Stay tuned!