(06 NOVEMBER 2017)BITCOIN (in USD):Short-term consolidation.

(06 NOVEMBER 2017)BITCOIN (in USD):Short-term consolidation.

6 November 2017, 13:05
Jiming Huang
0
34

btc


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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