- 2018-02-11
Bitcoin (BTC/USD) is finishing its trading week near 8070.
BTC reached 6000 on 2018-02-06 and went up again. Today it shows bullish move.
It is traded above the Conversion line. It seem to have made new minimum so that we can draw support line of downtrending corridor now.
There is light possibility of the price going down and trying to break 6000 again.
The Conversion and Base lines of Ichimoku move in the direction of croossing one another. Additional indicator (MACD) shows the signal to buy.
It is likely that Bitcoin will go up in the direction of resistance line of downtrending corridor (but not very intensively). First BTC will try to break through the Base line at about 9450/9500. After opening above the Conversion Line the price can go up to 10000 level and even 11000/11100.*
It is not as profitable to buy BTC now as during intensive uptrending. There will be a short-term uptrend now (to the resistance level of the corridor). Short-term trading is possible.
MACD already gives a signal to buy BTC. Additinal signal will be when the price breaks the Base line and opens above it (at about 9450/9500). Crossing of Conversion Line and Base line will also be a signal to buy. The price can go up to 10000 level and even 11000/11100 level at the end of the 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.