- 2018-04-01
Bitcoin (BTC/USD) is finishing its trading week near 6815.
BTC reached 6533 (support line of the downtrending corridor) this week and now is trying to go up again.
So it is very likely that Bitcoin will go up to the resistance level of new downtrend corridor at 7500 and then go down again.
The previously formed narrowing corridor (Triangle) is still in use. So it’s very much likely that the price will go inside that Triangle for at least next week. We can already expect a break out and new uptrend forming in a week.*
It is risky to buy BTC now. Intensity of trading is very low and volatality of BTC is comparatively low too.
Still short-term trading is possible. BTC prices will most likely vary between today’s price and 7400/7500 this week.
If BTC will be bought the coming week there should be put a proper stop-loss below the corridor’s support line because there is still bearish trend on the market and the price can begin falling more intensely.
*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.