- 2017-12-10
Bitcoin (BTC/USD) is finishing its trading week near 15000.
BTC reached 16640 on 12/07/2017 then retreated to 13000 in a day and today tried to go to 12700. Now we see it’s going up again.
It is traded above the Conversion line which confirms uptrend.
There is possibility of the price going down to try Conversion line again and support level at 14000. If the support is broken this will mean the price going down in the direction of Base line and Ichemoku cloud and the uptrend ending.
The indicator lines are going up and the Conversion line is going up with even more sharp angle. It shows us that the bullish trend is still extremely strong.
So it is more likely that Bitcoin will go up to 16640 again and try to break through it. It can break through 17000 line and fluctate between 18000 and 17000 for 2-3 days. When BTC breaks 18000 there will be very high probability of the price going to the Resistance Line of the uptrending corridor again but with higher maximum (19000/20000).*
If BTC is already bought there should be put a stop-loss above Base Line of Ichimoku (at 13000 will be rather safe for now).
If BTC breaks through 16000 line again and shows steady uptrending it’ll be a good time to buy. The price is very likely to go to the resistance line of the corridor. BTC will probably reach about 18500/19000/19500 (depends on intensity of the trend) but can also 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.