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 are slightly higher in early U.S. trading, as the bulls try to stabilize the market after prices hit an eight-month low on Wednesday. Bears are in firm near-term technical control. A price downtrend is in place on the daily bar chart to suggest still more downside pressure in the near term. Stay tuned!