- 2017-11-12
Bitcoin (BTC/USD) is finishing its trading week near 5810.
BTC came to 5100 on Nov 11, 2017 but went up to 5810 at the and of this day.
There is possibility of the price continuing to go down to break into Ichemoku Cloud. It’ll possibly be traded in the Cloud for some time.
We see that indicator’s lines are moving towards each other. So if the Conversion Line crosses the Base Line and goes down the price will go on downwards.
It is also rather possible that the price will go up and continue creating new uptrending corridor above the resistance level of the present corridor. So if the price breaks it and opens again above it there will be strong possibility of BTC reaching 7000, 7500 and even 8000 till the end of the week.*
If BTC is already bought there should be put a stop-loss above Ichimoku Cloud. BTC may go down as far as 5200.
If BTC goes up to the Conversion Line and resistance line (at about 6750) and opens above it again that will be a signal to buy. This will mean the beginning of a more intense uptrend and the price can double in the nearest future.
*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.