- 2017-12-17
Bitcoin (BTC/USD) is finishing its trading week near 18950.
BTC reached 19890 today, went down to 18600 and now is still showing bearish move.
It is traded above the Conversion line which still confirms uptrend.
There is possibility of the price going up to try 20000 line again. If the resistance is broken this will mean the price going up to new maximum at 21000/22000.
The indicator lines are beginning to turn. And additional indicator (MACD) shows Divergence. It shows us that the bullish trend is about to end here.
So it is much more likely that Bitcoin will go down. It will go to the Support line of uptrending corridor (13000/14000). But it is very unlikely to break this price level at once so there will be some retreat.
If BTC breaks through the Conversion Line and opens below it this will mean the and of bullish trend. There will be possibly the sidetrend for 2-3 weeks.*
It is very risky to buy BTC now because these seem to be a change of trend direction.
It’s a proper time to sell BTC. But we can wait to some additional signals.
If BTC goes down and opens below 18000 line this will be confirmation of the beginning of downtrending. If the price breaks the Conversion line and opens below it this will be additional conformation of the beginning of downtren too. If both of the signals coincide this will be a stronger signal to sell.
BTC will probably reach about 12000/13000/14000 and then can go sideways.
*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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I sold my BTC at 19800 at your advice. Now I see it was a very right decision. Thank to your predictions and analisys I took a great profit! And I also saved my money from additional buying BTC and so losing them! 🙂
Our congratulations! We are very happy that our forecasts helped you to make the right decision! 🙂