Bitcoin is retracing above 7’500, heading towards 8’339 (21/11/2017 high). Hourly support at 5’605 (13/11/2017 low) is distanced. Hourly resistance remains at 12’130 (18/01/2018 high). The short-term technical structure suggests upside 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 (6’000 range).