(22 JANUARY 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD) Slow increase.

(22 JANUARY 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD) Slow increase.

22 January 2018, 12:58
Jiming Huang


Slow increase.

(By Peter Rosenstreich )

• Bitcoin is confirming further recovery after

17/01/2018 collapse. Hourly support is located at

10'775 (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 but also presented

important downturns. There are decent

likelihood that the currency could reach $15'000

(December 2017 levels) in 2018. Bitcoin is trading

far above its 200 DMA (5K+ gap).

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