Bitcoin is trading lower. Hourly support at 5’605 (13/11/2017 low) approaches while resistance is located at 12’130 (18/01/2018 high). The short-term technical structure suggests further decline.
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 (6’000 range).