(10 JANUARY 2018)DAILY MARKET BRIEF 2:BITCOIN Ready for a bearish breakout.

(10 JANUARY 2018)DAILY MARKET BRIEF 2:BITCOIN Ready for a bearish breakout.

10 January 2018, 13:16
Jiming Huang


Ready for a bearish breakout.

• Bitcoin is suffering these past few days. The

technical structure has shown a tremendous

positive short-term momentum so far. Hourly

support area located around 10775 (22/12/2017

low). In the short-term, the technical structure

suggests a continued bearish momentum.

Expected to show further decline.

• In the long-term, the digital currency has had

an exponential growth. There are decent

likelihood that the asset will reach $40'000 in


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