Peter A Rosenstreich
Swissquote Bank Ltd
BITCOIN (in USD)
Weakening.
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Bitcoin is declining after reaching 7753, approaching the 7350 range. 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.
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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).
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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