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 prices arelower and hit a three-week low in early U.S. trading Wednesday. Prices are in asteep near-term downtrend and the bears still have the firm overall near-termtechnical advantage. Significant near-term technical damage has been inflictedto suggest more downside pressure in the near term. Stay tuned!
By Jim WyckoffFor Kitco News
Follow @jimwyckoff