Bitcoin daily chart alert—Prices careen to 6-month low; bears have momentum
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 sharply lower again and six-month low in early U.S. trading Friday. Bears have gained solid power this week. Prices are trending lower from the October high, the downtrend is strengthening and the bears have the strong near-term technical advantage, to suggest more downside price action in the near term.Stay tuned.