- 2018-03-04
Bitcoin (BTC/USD) is finishing its trading week near 11500.
Today it shows very light bullish move.
It is traded near the Resistance line of the downtrending corridor and inside Ichimoku Cloud. It seem to have already made new maximum.
There is light possibility of the price going up to 12000 and trying to break the Resistance line.
Additional indicator (MACD) shows the Divergence.
So it is likely that Bitcoin will go down in the direction of Support Line of downtrending corridor (but not very intensively). Firstly the price will go down and try to break out of Ichimoku Cloud (at about 8600/8500). It’ll probably take several times to try it.*
It is very risky to buy BTC now.
If BTC was previously bought and not sold yet there is high time to sell it now or wait till additional signal to sell. When Conversion Line crosses Base Line from above. Or MACD lines cross. Those will be additional signals of market’s change to downtrend. It will be a proper time to sell because price can possibly come to this level in a year if ever at all.
At least there should be put a stop-loss below Ichomoku Cloud.
*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.