Bitcoin Daily Chart Alert - Key Chart Support Now In Jeopardy - Jan 31
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 pricesarefirmer in early U.S. trading Wednesday. However, Tuesday's big losses now putthe market in jeopardy of falling below key chart support at the January low ofaround $9,200. Bitcoin-U.S. Dollar remains in a firm price downtrend on thedaily chart. Bears have the overall near-term technical advantage. It will takea move in prices above chart resistance at $13,000 to give the bulls sometechnical strength. Stay tuned!
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