Bitcoin Daily Chart Alert - Bears In Technical Control - May 24
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 again and hit another six-week low in early U.S. trading Thursday. Bears have the firm overall near-term technical advantage as a downtrend line remains in place on the daily bar chart. More downside is likely in the near term, including a test of the April low.