Bitcoin Daily Chart Alert - Bulls Try To Stabilize Market - Jan 18
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 arehigher in early U.S. trading Thursday, as the bulls are working to stabilizethe market after recent sharp losses. Prices Wednesday dropped well belowpsychological support at $10,000 and hit a six-week low. Thursday's pause isnot bullish. Major technical damage has been inflicted recently, to suggeststill more downside price pressure in the near term. Stay tuned!
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