Bitcoin Daily Chart Alert - Prices Hammered; More Chart Damage - Jan 16
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 pricesaresharply lower Tuesday and hit a four-week low. More technical damage wasinflicted today, to suggest still more downside price pressure in the nearterm. The bitcoin bears are now eyeing this week pushing prices below strongcharts support at the December low, which could open a flood gate ofweak-handed long-position liquidation. Stay tuned!
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