Bitcoin continues its bearish consolidation, trading along 7300. 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 sideways trading 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 stabilize between 7’000 – 12’000 in 2018. Bitcoin is trading below its 200 DMA (7500 range).
