Bitcoin is trading within uptrend channel, approaching hourly resistance at 12130 (18/01/2018 high) and distancing hourly support at 9022 (30/11/2017 low). The short-term technical structure suggests further 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).
