Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price trend reversals. Jim's unique and exclusive daily technical report is an absolute must for any trader/investor/market watcher who closely follows Bitcoin.
(Kitco News) - Bitcoin-U.S. dollar prices areweaker in early U.S. trading Wednesday. Bears are still in firm near-termtechnical control. A bearish pennant pattern has once again formed on the dailybar chart. A price downtrend also remains in place to suggest sideways-to-lowerprice action in the near term. Stay tuned!
By Jim WyckoffFor Kitco News
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