Bitcoin Daily Chart Alert - Bulls Fading This Week - Mar 8
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 again in early U.S. trading Thursday. Now, price action this week has atleast temporarily negated a near-term price uptrend. A drop below solid chartsupport at $9,260 would produce serious chart damage and would also confirm abearish double-top reversal on the daily bar chart. Bulls need to step up andshow power soon to avoid more serious near-term technical damage beinginflicted.Stay tuned!
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