Bitcoin Daily Chart Alert - Bearish Downside "Breakout" Monday - Oct. 29
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 and hit a two-week low in early U.S. trading Monday. The recent “volatility collapse” had suggested a looming bigger price move was coming, and it occurred on the downside today with a bearish “breakout” from the trading range. The bears have the firm overall near-term technical advantage. Stay tuned!