- 2018-05-20
Bitcoin (BTC/USD) is finishing its trading week near 8520.
BTC tried to break out of Ichimoku Cloud today and now it’s going inside it. The whole week BTC was traded inside the Cloud and showed sideways trend.
There was a signal to sell at the beginning of the past week made by Ichimoku lines’ crossing. The Ichimoku lines and MACD lines are going down in parallel and show no signs of a turn. MACD is showing continuation of downtrending.
So it is likely that BTC will break out of Ichimoku Cloud and continue going down this week. The fall can be intense approx. as it was 2 weeks ago. The price can go down for approx. the same amount as it was 2 week ago too (down to approx.7350/7300 till the ena of the week.)
It is very risky to buy BTC now.
Short-term trading is possible though it’s very risky and highly not recommended because the fall of price can be rather intense.
If BTC was previously bought it’s high time to sell now or wait to additional signal. The additional signal will be MACD lines crossing 0 and BTC breaking out of Ichimoku Cloud.
*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.