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.
Disclaimer
This article ‘ 7 December Bitcoin Price Technical 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.