BITCOIN (in USD): Continued weakness
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- Bitcoin rise started in mid-April pauses, the pair is decreasing, trading below 9000 and heading along 8610. 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 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 slightly above its 200 DMA (8500 range).
Original story: https://tinyurl.com/y83dzyyn
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