Bitcoin Daily Chart Alert - Bears Have Momentum On Their Side

New York (Aug 16)  Bitcoin-U.S. dollar futures prices are lower in early U.S. trading Friday. The Bitcoin bears have momentum as a price uptrend on the daily bar chart has been negated. However, there is strong technical support at the summertime lows that could stop the bleeding and put in a market bottom. However, if the summertime lows are breached it would produce very serious chart damage to suggest solid downside price pressure to follow.

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