Short-term consolidation.
(By Yann Quelenn)
• Bitcoin is now consolidating after setting-up a
new all-time high for 4 consecutive days. The
technical structure shows a tremendous positive
short-term momentum. Hourly support can be
located at 6027 (30/10/2017 low). Strong support
stands very far at 2975 (22/08/2017 low). In the
short-term, the digital currency should continue
rising.
• In the long-term, the digital currency has had
an exponential growth. There are decent
likelihood that the asset will reach $10'000.
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