Bitcoin rise started in mid April continues, currently trading above 8900 and heading along the 8955 range. Bitcoin bearish pattern started in March 2018 is maintained as long as the 9000 range is not reached. The pair is contained between hourly support and resistance given at 6306 (13/11/2017 low) and 10232 (01/02/2018 high). The technical structure suggests further short-term increase.
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 slightly above its 200 DMA (8000 range)
