Bitcoin: On the way to recovery ?
|EUR/GBP
Downward skewed.
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EUR/GBP has contracted after breaking rising channel top. The pair is trading between support at 0.8689 (08/12/2017 low) and resistance is located at 0.9046 (14/09/2017 high).
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In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).
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EUR/CHF
Moving higher after slight decrease.
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EUR/CHF bullish momentum has paused. Hourly resistance is given at 1.1832 (15/01/2018 high). Expected to show short-term short-term decline.
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In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's QE programm is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).
BITCOIN (in USD)
On the way to recovery ?
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Bitcoin keeps pushing up after a strong collapse. Hourly support area is located around 10'775 (22/12/2017 low). In the short-term, the technical structure suggests a continued bearish momentum. Expected to show further decline.
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In the long-term, the digital currency has had an exponential growth but also presented important downturns. There are decent likelihood that the currency reaches $15'000 (December 2017 levels) in 2018.
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