Bitcoin Price Technical Outlook


Bitcoin has been very volatile as seen in the 14 December Bitcoin Price Technical Outlook. Right now, it seems as if the $16,000 level underneath continues to be supported. 

14 December, Swissquote – Bitcoin has been very volatile, but right now, it seems as if the $16,000 level underneath continues to be supported. That is an area that has shown itself to be supportive in the past, and as it approaches the $16,000 level, it looks likely that the market could rally from here and go towards the $17,200 level, that’s an area that is a resistance barrier that being broken to the upside should be a very bullish sign and perhaps send more money flooding into the Bitcoin space.

14 December Bitcoin Price Technical Outlook

• Bitcoin’s bullish momentum is far from over. The technical structure has shown a tremendous positive short-term momentum. The 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 ‘ 14 December Bitcoin Price Technical Outlook‘ 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.

    Share Your Opinion, Write a Comment