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Bitcoin - Further Sideways Consolidation Likely

Published 19/03/2018, 11:08
BTC/USD
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BITCOIN (in USD) Further sideways consolidation likely

Bitcoin

Bitcoin trades indistinctly at the 8200 range, breaking hourly support at 7614 (02/02/2018 low) and expecting to trade sideway in the shortterm. Hourly support and resistance are given at 6797 (06/02/2018 low) and 12130 (18/01/2018 high).

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).

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