(05 MARCH 2018)DAILY MARKET BRIEF 3:Ready to target 12000.

(05 MARCH 2018)DAILY MARKET BRIEF 3:Ready to target 12000.

5 March 2018, 13:26
Jiming Huang


Ready to target 12000.

(By Peter Rosenstreich  )

• Bitcoin is starting back its increase,

approaching hourly resistance at 12130

(18/01/2018 high). Hourly resistance is given at

9022 (30/11/2018 low). The short-term technical

structure suggests further upward moves.

• 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

above its 200 DMA (7000 range).

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