Editor’s Note: Welcome to Kitco’s 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 futures prices are lower again in early U.S. trading Thursday. Bears this week have gained some downside technical momentum and are working on establishing a near-term price downtrend. There is strong technical support at the summertime lows. Bulls need to defend those summertime lows to avoid serious chart damage being inflicted. Stay tuned.
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