(05 JUNE 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD)Weakening.
Analytics & Forecasts

(05 JUNE 2018)DAILY MARKET BRIEF 3:BITCOIN (in USD)Weakening.

5 June 2018, 14:27
Jiming Huang
Jiming Huang
0
93

btc


Weakening.

By Peter Rosenstreich

• Bitcoin is declining after reaching 7753,

approaching the 7350 range. The pair is further

contained between support and resistance given

at 7051 (29/05/2018 low) and 8583 (21/05/2018

high). The technical structure suggests 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

below its 200 DMA (8800 range).

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