Weakening further.
(By Peter Rosenstreich)
• Bitcoin is trading lower. Hourly support at
5'605 (13/11/2017 low) approaches while
resistance is located at 12'130 (18/01/2018 high).
The short-term technical structure suggests
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 7'000 - 12'000 in 2018. Bitcoin is trading
slightly above its 200 DMA (6'000 range).
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