Bitcoin is now retracing above 8200. Strong support stands at 5605 (13/11/2017 low).Hourly resistance remains at 12130 (18/01/2018 high). The short-term technical structure suggests further 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)