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 priceshavebeen hammered lower and hit a nine-week low the past two sessions, to producefresh chart damage to suggest more downside price pressure in the near term. Aprice downtrend on the daily bar chart has been restarted. Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff