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. dollarprices are weakerin early U.S. trading Wednesday. Trading so far this week has been quieter andless volatile, despite higher volatility in the U.S. stock market. Bitcoin bearsstill have the overall near-term technical advantage. However, the bulls areworking to stabilize prices just above strong chart support at the Februarylow. If bulls can keep prices above the February low in the near term, theycould then be hopeful a near-term bottom would be in place. Stay tuned! Jim Wyckoff
By Jim WyckoffFor Kitco News
Follow @jimwyckoff