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Bitcoin November 26 daily chart alert - Bulls work to stabilize price

Kitco Media
By Jim Wyckoff
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Bitcoin November 26 daily chart alert - Bulls work to stabilize price teaser image

(Kitco News) - Wednesday, November 26--December bitcoin futures prices are near steady in early trading Wednesday. Bulls are working to stabilize the market after prices last Friday hit a contract low. Bulls have some heavy lifting to do as the technical picture remains strongly bearish. A price downtrend remains firmly in place on the daily bar chart, to suggest the path of least resistance for prices remains sideways to lower.  The market remains technically short-term oversold and due for a corrective bounce, soon. Wyckoff’s Market Rating: 1.5 (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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