(23 APRIL 2018)BITCOIN (in USD):Trading above 8900.

(23 APRIL 2018)BITCOIN (in USD):Trading above 8900.

23 April 2018, 14:33
Jiming Huang
0
27

btc

Trading above 8900.

(By Peter Rosenstreich)

• Bitcoin rise started in mid April continues,

currently trading above 8900 and heading along

the 8955 range. Bitcoin bearish pattern started in

March 2018 is maintained as long as the 9000

range is not reached. The pair is contained

between hourly support and resistance given at

6306 (13/11/2017 low) and 10232 (01/02/2018

high). The technical structure suggests further

short-term increase.

• 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 (8000 range).

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