Bitcoin Daily Chart Alert - Market Takes U.S. Bashing In Stride - July 16
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 modestly weaker in early U.S. trading Tuesday, but appear to have weathered pretty well a serious bashing from U.S. government officials the past few days, including President Trump. A price uptrend is still in place on the daily bar chart. Bulls need to defend the July low. If it’s penetrated on the downside, the price uptrend on the daily chart would be killed. Stay tuned.