Bitcoin Daily Chart Alert - Still No Bottom In Sight For Bitcoin, Despite Corrective Bounce
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-terma 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 higher in early U.S. trading Friday. Prices last week hit a multi-month low and have since seen a normal corrective rebound. Bears are still in firm near-term technical control amid a price downtrend in place on the chart. There are not yet any early clues to suggest a market bottom is close at hand. Stay tuned! Jim Wyckoff