- 2018-01-07
Bitcoin (BTC/USD) is finishing its trading week near 16210.
BTC reached 17252 on 2018-01-06 and retreated. Now it is showing bullish move.
Though it is traded above the Conversion and Base lines but indicators tend to move towards several signals of downtrend.
There is very light possibility of the price going up further to try 17500/18000 levels.
The Conversion line is below the Base line. Ichimoku Cloud goes up. Span line moves downwards for crossing other indicator lines.
It is highly likely that Bitcoin will go down to break into Ichemoku cloud and even try to go down through it. The price can go down as far as support line at 13200 (approx. level of Ichimoku Cloud support line) and is likely to try to break it for about a week.*
It is very risky to buy BTC now because it seems to be a change of trend direction now.
Short-term trading is possible but there can be a very quick change to downtrend so buying BTC now is highly NOT recommended.
If BTC was previously bought and not sold yet there is high time to sell it now or wait till the strong signal to sell. When Ichimoku cloud crosses indicators’ lines from below and Span line also crosses them from above that will be a strong signal of market’s change to downtrend. It will be a proper signal to sell because price can possibly come to this level in a year if ever at all.
*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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These forecasts are very helpful! I sold in time for having the best profit! Thanks for this good service!
Thank you for kind words! We always try do our best to make good service and predictions for our subscribers!