- 2017-12-31
Bitcoin (BTC/USD) is finishing its trading week near 13770.
BTC reached 11650 on 2017-12-30 and retreated to 12380. Today it shows bullish move.
It is traded below the Conversion and Base lines which means the end of previous intense uptrend.
There is possibility of the price going down to try to break into the Ichimoku cloud and the cloud is going up to meet it.
The Conversion line turns up again. It shows that there will be possible short-term rise again.
But it is highly unlikely that Bitcoin will go up to the previous 19900 record because trend is very week and it is about to end in 1-2 weeks. BTC can reach about 17000/17200 levels and then will go down again.
There is high possibly the sidetrend for 1-2 weeks.*
It is very risky to buy BTC now because it seems to be a change of trend direction now.
Still for short-term trading there will be possibility to buy if BTC crosses indicators lines from below and goes higher then 15500.
If BTC was previously bought and not sold yet there will be a proper signal to sell when the bearish candle crosses Base Line. BTC is highly unlikely to go up more than 17000/17500.
*predictions are made on the basis of several indicators. Only 1 indicator is shown on the screenshots for the purpose of not overloading the chart with technical details and indicators’ lines.