- 2018-02-04
Bitcoin (BTC/USD) is finishing its trading week near 8185.
It’s been falling for almost the whole week.
It is traded below the Conversion and Base lines.
There is possibility of the price going down further to try 7000 and 6000 levels.
The additional indicator (MACD) shows Divergence.
So it is likely that Bitcoin will stop falling down in 1-2 days and will begin to go up to break the Conversion line of Ichemoku from below. The price can go down to 6000 and then turn up. BTC will probably reach 8700-9000 at the end of the week.*
As bearish trend is not so strong now as it was at the beginning of the year short-term trading is possible.
BTC can be bought when the price begins going up from 7000. But more reliable variant is to wait when the price breaks the Conversion line and opens above it. Additional strong signal will be when the Conversion line crosses the Base line from below.
Profit will actually not be quick because the price can go to the Resistance line of downtrending corridor for about a month.
*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.
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I bought at 18000 and now the price is more then twice lower 🙁 I wish I read your forecasts before buying… Nevertheless I believe that BTC will come to 20K and higher again. So I’ll HODL.
And I’ll go on reading your forecasts and waiting for good news for me.
Well, of course you have full right to HODL. But it’s rather mentally difficult because BTC can be going to 20K+ for a rather long time and still there is possibility of its not reaching that ever again.