Bitcoin Daily Chart Alert – 6-Week Low And Bears Have Momentum – May 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 prices are lower and hit a six-week low in early U.S. trading Wednesday. Bears have the overall near-term technical advantage as a downtrend line remains in place on the daily bar chart. That means the path of least resistance for prices will continue sideways to lower until a bullish chart signal is given.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.


Source: Bitcoin Daily Chart Alert – 6-Week Low And Bears Have Momentum – May 23

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