- 2018-03-18
Bitcoin (BTC/USD) is finishing its trading week near 8200.
Today it shows bullish move. BTC is traded below the Conversion line and Ichimoku Cloud. There is rather weak intensity according to additional indicators. BTC seem to have made new minimum so that we can draw support line of new downtrending corridor now. The new corridor is almost twice narrower than the previous.
There is light possibility of the price going down and trying to break 7500 to 7000 again.
It is more likely that Bitcoin will go up to break through the Conversion line and go in the direction of the resistance level of the corridor. Still the intensivity of trading is rather low and the price is very unlikely to come to the resistance level within 1 week. The price will probably come to 8900/9000 levels this week. There will be possible some retreat at the end of this week.*
It is risky to buy BTC now. Intensity of trading is very low and volatality of BTC is comparatively low too.
Still short-term trading is possible. BTC prices will most likely vary between todays price and 8900/9000 this week.
If BTC will be bought the coming week there should be put a proper stop-loss below the corridor’s support line because there is still bearish trend on the market and the price can begin falling more intensely.
*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.