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 pricesarelower again and hit a four-week low in early U.S. trading Friday. Price actionthis week has negated a near-term price uptrend, has produced serious chartdamage and has confirmed a bearish double-top reversal on the daily bar chart. Nowthe path of least resistance for Bitcoin prices for at least the near term issideways to lower. Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff