(24 JANUARY 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD)Flattening.

(24 JANUARY 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD)Flattening.

24 January 2018, 14:30
Jiming Huang
0
36

btc


Flattening.

(By Peter Rosenstreich )

• Bitcoin is trading mixed. Hourly support is at

9'185 (17/01/2018 low). In the short-term, the

technical structure suggests a continued bearish

bias. Expected to show further decline.

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

an exponential growth but also presented

important downturns. There is decent

likelihood that the currency could stabilize

between 9'000 - 12'000 in 2018. Bitcoin is trading

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

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