Bitcoin, Litecoin at New All-Time Highs Dec 2017


Both of the cryptos we follow on Tuesdays have hit new all-time highs. Bitcoin peaked at $11,950 dollars today while LTC/USD topped out at $105.30 two days ago.

Bitcoin Clears $10,000 Dollars

After fighting with the $10,000 level for a few days BTC finally managed to clear it and head higher. Today we hit a high of $11,950 before a daily retracement took us back down to $11,461 dollars per coin. We are currently quoted close to the daily highs at $11,712 dollars.


The rally that started three weeks ago is still in play. To end it we need to see a break below the $8,650 level. Just above here we should have solid support at the $8,811 swing low, followed by the $10,000 round figure. Considering that we’re near all-time highs for BTC/USD, there’s not much resistance on the upper end. Today’s high at $11,950 as well as $12,000 may provide some resistance. Further up the $15,000 round level is another notable resistance. The ‘smaller’ round levels at $13,000 and $14,000 may act as resistance as well. On the long-term charts (both weekly and monthly) bitcoin remains in a bull market.

Bitcoin got a lift from a positive news cycle this weekend. The CBOE futures exchange announced that it will list bitcoin futures on December 10th, eight days before the launch of CME futures. The sudden decision to launch early seeks to seize the first-mover advantage in this emergent asset class. Trading will start on Sunday at 18:00 EST. Initially, trading fees will be waived during December. The CBOE futures will be listed under the ticker XBT and will cash-settle based on the Gemini auction.

Litecoin Also at New All-Time Highs

Litecoin prices are near all-time highs as well, after peaking at $105.30 two days ago. We are currently trading just below the $100 round figure.


Litecoin is still in an uptrend here. To end the rally on the daily charts the bears will have to push LTC/USD below the $73.03 swing low. Support below here can be found in the area around the $66.69 level. Here we have the former swing high at $66.69 and the swing low at $67.51 dollars. A decisive breakdown below here could start a new LTC downtrend.

On the upside, we have weak resistance around the $100 round figure, followed by more resistance at the $105.30 all-time high. Similarly to BTC, litecoin is looking bullish on both the weekly and monthly timeframes.

Start mt4 bitcoin trading with FXOpen broker.

FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage, 30% margin call, 0.01 lot minimum transaction size with no maximum — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.

*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules respectively. They are not available for trading by Retail clients.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Cryptocurrencies

Bitcoin Cash Analysis: Promising Resistance Breakout Cryptocurrency Prices Rise on SEC Rumours Market Analysis: Bitcoin Sets September High BTC/USD Analysis: Bulls Lose Progress Amid SEC Defeat Bitcoin Trading Volumes Fell to a Minimum of 4 Years

Latest articles

Financial Market News

Weekly Market Wrap With Gary Thomson: Inflation, EUR/USD, S&P 500, OIL

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. Inflation Still Dogs the

Forex Analysis

Market Analysis: Dollar Falls from 10-month High

EUR/USDThe euro rose on Thursday as the dollar retreated since investors remained cautious ahead of key inflation figures due on Friday. Data on Thursday showed the US economy maintained fairly strong growth in Q2, with an unrevised annual rate


US 30 Analysis: Dow Jones Finds Support

September is likely to be the second month in a row that the Dow Jones (US 30) stock market index declined. The last time this happened was... also in September, a year ago. Important economic data was published yesterday: → According

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.