(22 MAY 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD)Weak rally... but hodling.

(22 MAY 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD)Weak rally... but hodling.

22 May 2018, 14:26
Jiming Huang
0
147

btc


Weak rally... but hodling.

BY Peter Rosenstreich

• Bitcoin bearish pattern started in March 2018 is

maintained but slight buying pressure has

entered. The pair is contained between strong

support and resistance given at 6306 (13/11/2017

low) and 10232 (01/02/2018 high). The technical

structure suggests short-term 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

below its 200 DMA (8500 range).

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