Bitcoin Daily Chart Alert - Bulls Fading Again - Feb 26
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 weaker in early U.S. trading Monday. The recent downside correction continues, to the point now that the near-term price uptrend is in serious jeopardy. The bulls are fading and need to show fresh power soon. The next key upside technical target for the bitcoin bulls is pushing prices above stiff chart resistance at the February high of $11,780. Stay tuned!