- 2017-10-01
Bitcoin (BTC/USD) is finishing its trading week near 4400.
It is traded inside Ichimoku Cloud for the past week and it shows sideways trend.
There is possibility of the price going down to 3800 to test the lower side of Ichimoku Cloud and the support level of uptrending corridor. So if it breaks the support level this will mean the beginning of bearish trend.
It is more likely that Bitcoin will go on being traded above the conversion line of Ichimoku Cloud so the price will go up to 4400 again after reaching 4200.
If BTC was previously bought at 3950 (there was the signal to buy) there should be put a stop-loss below the lower side of Ichimoku Cloud and the support level of uptrending corridor.
If BTC goes up from support at 4200 and/or it closes above Ichimoku Cloud it’ll be a signal to buy. The price can go up as far as 4600 till the end of this week.