Bitcoin Daily Chart Alert-Bears Now Working On Downtrend
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. Bears have theoverall near-term technical advantage as a fledgling downtrend line is now inplace, to suggest the path of least resistance for prices will remain sidewaysto lower in the near term.
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