Bitcoin Daily Chart Alert—Bulls Fading Fast; Price Uptrend Killed - July 2
Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!
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 futures prices are lower and hit a nearly two-week low Tuesday morning. Bulls are fading fast and need to show fresh power very soon. A price uptrend on the daily bar chart has been negated. The higher daily price volatility at higher price levels is not bullish and is one technical clue of a topping process. 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!