Bitcoin rise started in mid-April pauses, the pair is currently decreasing after reaching 9795 (04/05/2018 high), heading along the 8970 range. Bitcoin bearish pattern started in March 2018 weakens. 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 decrease.
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 (8300 range).
