Continued weakness.
(By Peter Rosenstreich )
• Bitcoin rise started in mid-April pauses, the
pair is currently decreasing after reaching 9795
(04/05/2018 high), heading along the 8285 range.
Bitcoin bearish pattern started in March 2018
strengthens. 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 shortterm
decrease.
• 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 below its 200 DMA (8500 range).
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