Bitcoin Technical Price Forecast


Bitcoin prices have been quite volatile over the weekend. However, the 11 December Bitcoin Technical Price Forecast shows that in the long-term, the digital currency has had an exponential growth.

11 December, Swissquote – Bitcoin prices have been quite volatile over the weekend as prices dipped towards the $13000 area only to recover as the end of Sunday approached and the prices have since bounced back to the $16000 area appears to be prepared for another bullish leg. However, it is noteworthy that the bitcoin futures trading has begun at the CBOE and this is likely to lead to some good 2 way trading at that exchange.

11 December Bitcoin Technical Price Forecast

• Bitcoin’s bullish momentum is far from over. The technical structure has shown a tremendous positive short-term momentum. Hourly support is located below 14k (08/12/2017 low). Strong support stands very far at 2975 (22/08/2017 low). In the short-term, the digital currency should continue rising at levels unseen so far.

• In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $40’000 in 2018.

Disclaimer

This article ‘ 11 December Bitcoin Technical Price Forecast ‘ was written by Yann Quelenn, Market Analyst at Swissquote.

While every effort has been made to ensure that the data quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein.

This document does not constitute a recommendation to sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or in any other kind of investments.

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