Bitcoin - Trading Sideways
Swissquote Ltd | Feb 13, 2018 11:06
Sideways trading
Bitcoin is now retracing above 8200. Strong support and resistance stand at 5605 (13/11/2017 low) and 12130 (18/01/2018 high). The short-term technical structure suggests further upside 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 stabilise between 7,000 - 12,000 in 2018. Bitcoin is trading above its 200 DMA (6,500 range).
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