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 pricesareslightlylower in early U.S. trading, as the bulls are working to stabilize the marketafter prices hit an eight-month low on Wednesday. Bulls have heavy lifting todo, however. Right now a price downtrend remains in place on the daily barchart to suggest still more downside pressure in the near term. Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff