Bitcoin trading forecast for December 4th-8th, 2017

Bitcoin (BTC/USD) is finishing its trading week near 11160.

BTC tried even 11440 on 2017/11/29 but was not strong enough to go further up and and went below resistance level at 10000. It broke the resistance line in two days and finished near 11000. BTC is traded above the Conversion line which means uptrend.
There is possibility of the price going down to try Conversion line and support level at 10000. If the support is broken this will mean the price going down in the direction of Base line and Ichemoku cloud.

BTC draw the Star previous day still we see no change of the trend. And the indicator lines are going up in parallel. It shows us that the bullish trend is extremely strong.
So it is more likely that Bitcoin will go up. It can break through 12000 line and go further up. When it passes 12000 there is very high probability of the price going to the 2nd Resistance Line of the uptrending corridor.
The price can try the resistance line but it’s unlikely it breaks through at first try. Most likely it will have some recoil.*

If BTC is already bought there should be put a stop-loss above Base Line of Ichimoku (at 9000 will be rather safe for now).

If BTC breaks through 12000 line and shows steady uptrending it’ll be a very good time to buy. The price is very likely to go to the resistance line of the corridor. BTC will probably reach about 15500/16000/16500 (depends on intensity of the trend) but will have some moderate retreat at the end of this week.

*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.