(Kitco News) - Tuesday, October 21--October bitcoin futures prices are lower Tuesday after a recovery Monday following hitting a 5.5-month low last Friday. The bulls are working to stabilize the market but are still in trouble. The recent price downdraft has produced major near-term technical damage. Bears have the solid overall near-term technical advantage amid a price downtrend in place. There are no solid, early technical clues to suggest a market bottom is close at hand. See the important near-term technical support and resistance lines on the chart. Wyckoff’s Market Rating: 2.0 (out of 10.0, with 1.0 being the most bearish and 10.0 being the most bullish).
