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Bitcoin daily chart alert - Weaker price action this week - Dec. 27

Jim Wyckoff

Kitco News

Editor's Note: 2020 is expected to be another year of significant uncertainty and turmoil. But the question is what asset will emerge the victor when the dust settles from the global trade war, Brexit, recession threats, negative bond yields. It's a showdown of global proportions, so don't miss all our exclusive coverage on how these factors could impact your 2020 investment decisions.

(Kitco News) - Bitcoin-U.S. dollar prices are lower in early U.S. trading Friday. The holiday season is making for quieter dealings, but the bears had the better week. While the bulls have stopped the price downtrend, the have faded this week and need to show some fresh power. Recent price action has produced a bullish double-bottom reversal pattern on the daily chart, which suggests a market bottom is in place. Stay tuned.

By Jim Wyckoff

For Kitco News

Contact jwyckoff@kitco.com
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