Bitcoin Daily Chart Alert - Prices Down, Hit New For-The-Move Low - Dec. 7
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 new more-than-one-year low Friday. Prices have seen a bearish downside “breakout” from a bearish symmetrical triangle pattern that you were warned about right here earlier this week. The bears remain in firm technical control, to suggest more downside price action in the near term. Stay tuned!