(Kitco News) – Bitcoin-U.S. dollar prices are again solidly lower and hit a 1.5-year low in early U.S. trading Wednesday. The steep price slide continues and investors are bailing out of Bitcoin at an increasing rate. The bears have the strong near-term technical advantage, have produced a bearish downside “breakout” from the recent trading range, and have restarted a price downtrend on the daily bar chart. The bears have the power to push prices still lower in the near term. However, prices are now short-term oversold and due for a corrective bounce soon. Stay tuned!
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