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Bitcoin November 24 daily chart alert - Price downtrend remains firmly in place

Kitco Media
By Jim Wyckoff
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Bitcoin November 24 daily chart alert - Price downtrend remains firmly in place teaser image

(Kitco News) - Monday, November 24--December bitcoin futures prices are down in early trading Monday. Prices last Friday hit a contract low. The technical picture remains solidly bearish. A strong price downtrend remains in place on the daily bar chart, to suggest still more price downside in the near term. The only bright spot, technically, is that the market is technically short-term oversold and due for a corrective bounce, soon, amid the existing price downtrend. Bears have the strong overall near-term technical advantage. Wyckoff’s Market Rating: 1.0 (out of 10.0, with 1.0 being the most bearish and 10.0 being the most bullish).

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Kitco Media

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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BitcoincryptoDecember bitcoin futures

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