Bitcoin starts a recovery phase after decreasing below 10000. Expected to head higher along the 11000 range. Hourly support and resistance remain at 9022 (30/11/2017 low) and 12130 (18/01/2018 high). The technical structure suggests short-term upward moves.
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 above its 200 DMA (7000 range).
