Weak bounce
Bitcoin is trying to bounce following recent decline at 6613, heading along the 6800 range. Bitcoin bearish pattern started in March 2018 continues. 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 short-term consolidation.
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 below its 200 DMA (7700 range).
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