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Bitcoin Grinding Higher

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Bitcoin continues to bounce in a sideways range. The pair is currently trading along 7600, heading along 7540. The pair is further contained between support and resistance given at 7051 (29/05/2018 low) and 8583 (21/05/2018 high). The technical structure suggests shortterm decrease.

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 (8800 range).

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