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Bitcoin Sept. 15 chart alert - Bears having the better week

Kitco Media
By Jim Wyckoff
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(Kitco News) - Bitcoin-U.S. dollar prices are slightly lower in early U.S. trading. Bears have gained momentum this week. Price action is now sideways and choppy and bulls and bears are on a level overall near-term technical playing field. A drop in prices below chart support at the September low would give the bears fresh power to suggest a new leg down in prices. A move in prices above chart resistance at this week’s high would recharge the bulls, to suggest further gains. Stay tuned!

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Jim Wyckoff

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

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