Bitcoin Daily Chart Alert—Bulls Need To Stabilize Market Now
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Editor's Note: Welcome to Kitco's 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 strongly lower Monday morning, following the cash market’s big weekend losses. The higher daily price volatility at higher price levels is not bullish and is one technical clue of a topping process. Bitcoin bulls need to step up and show good power this week to keep the price uptrend on the daily bar chart alive. Remember to stay tuned right here because that’s where you’ll get more of those early chart clues on price trend changes, or price acceleration!