- 2017-10-15
Bitcoin (BTC/USD) is finishing its trading week near 5700.
As it was expected BTC broke resistance level at 4620 and went up to try resistance level at 4910 and broke it too. It confirms the beginnig of uptrend.
There is possibility of the price breaking resistance level at 6170 and going up to 6300. This will mean strengthening of bullish trend. It can also go down to 4910 and try it.
It is more likely that Bitcoin will go on being traded above the conversion line of Ichimoku. It will go down and try to break support line at 5100 and then go up to try resistance level at 6100. This week the price will go between the resistance level of uptrending corridor and the conversion line of Ichimoku Cloud.
If BTC is already bought there should be put a stop-loss above Base Line of Ichimoku (at 5000 will be rather safe for now).
If BTC tries the conversion line at 5100 and opens above it again on the next period (day) it’ll be a signal to buy. The price is very likely to come to resistance level at 6100 but still the trend is not strong enough to break it. The price will probably be at about 5980 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.