Bitcoin Daily Chart Alert - Bulls Struggling, Need To Make A Stand - July 29
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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 futures prices are lower in early U.S. trading Monday. Bulls are on the ropes and need to step up and show power soon to avoid serious chart damage being inflicted. A drop in prices below the July low, which is now closeby, would produce serious technical damage to suggest a sustained price downtrend. Bulls have their work cut out for them this week. Stay tuned.