Bitcoin is drawing a lot of attention as the 7 December Bitcoin Price Technical Forecast shows a possibility of reaching the target of $20,000 before Christmas.
7 December, Swissquote - Bitcoin has continued to draw a lot of attention as a lot of people are starting to get interested. At this point, it seems like it will reach the target of $20'000 before Christmas and perhaps even find a bit of a pullback at that point.
7 December Bitcoin Price Technical Forecast
• Bitcoin is in a fire mode. The technical structure shows a tremendous positive short-term momentum. Hourly support is located at 9000 (29/11/2017 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.
This article ‘ 7 December Bitcoin Price Technical Forecast ‘ was written by Yann Quelenn, Market Analyst at Swissquote.
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