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 pricesare higher again in early U.S. trading Wednesday, on a further correctiverebound from recent selling pressure. Bears still have the firm overallnear-term technical advantage as a downtrend line remains in place on the dailybar chart. Bulls still have heavy lifting to do in the near term, to negate thedowntrend on the daily bar chart.
By Jim WyckoffFor Kitco News
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