Bitcoin Daily Chart Alert - Bearish Triangle Pattern Has Formed - Jan 2
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 priceshave seen consolidative trading recently, following the big sell off inlate-December. Trading the rest of this week will be extra important. The bearsstill have some technical momentum on their side as price action recently hascreated a bearish symmetrical triangle pattern, to suggest a downside price“breakout” from that pattern is coming soon.
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