Bitcoin Daily Chart Alert - Still Trapped In A Downtrend - Jan 23
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 pricesare slightly lower in early U.S. trading Tuesday. Bitcoin-U.S. Dollar remainstrapped in a price downtrend on the daily chart. Bears have the overallnear-term technical advantage. That means the path of least resistance forprices remains sideways to lower. It will take a move in prices above stiffchart resistance at $14,000 to revive the bulls.Stay tuned!
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