Bitcoin Daily Chart Alert - Serious Downside Correction; Bulls Need To Step Up - July 15
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 have the past two days seen a serious downside correction in an uptrend that is still in place on the daily bar chart—but now just barely. Bulls need to defend the July low. If it’s penetrated on the downside, the price uprend on the daily chart would be killed. Bulls need to step up this week! Stay tuned.