Bitcoin Daily Chart Alert - Market Pauses After Big Down Day Thurs.- Oct. 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 slightly up in quieter trading after hitting a multi-week low Thursday. The recent “collapse in volatility” in prices on the daily bar chart suggested a bigger price move was coming and we got it Thursday. The bears now have the solid overall near-term technical advantage to suggest more downside price pressure in the near term. Stay tuned!