Bitcoin Daily Chart Alert - Bearish Downside Breakout Thursday - Oct. 11
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 sharply lower and hit a multi-week low in early U.S. trading Thursday. The recent “collapse in volatility” in prices on the daily bar chart suggested a bigger price move was coming and we got it today. The bears have the solid overall near-term technical advantage and gained fresh power today. Stay tuned!