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 in early U.S. trading Tuesday. Bears have the overall near-term technicaladvantage as a downtrend line remains in place on the daily bar chart. Thatmeans the path of least resistance for prices will continue sideways to loweruntil a bullish chart signal is given.
By Jim WyckoffFor Kitco News
Follow @jimwyckoff