Bitcoin Daily Chart Alert - Bearish Chart Pattern Develops - Sep 12
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 near steady Wednesday morning. The bears are in firm overall technical control following the recent steep price declines. And the recent pause in price action has produced a bearish pennant pattern on the daily chart. Stay tuned!