Bitcoin continues its decline, approaching the 8000 range and breaking hourly support at 9022 (30/11/2017 low). Approaching hourly support given at 7614 (02/02/2018 low). The technical structure suggests short-term downward 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 approaching its 200 DMA (7000 range).
