- 2018-01-21
Bitcoin (BTC/USD) is finishing its trading week near 11510.
BTC reached 9231 on 2018-01-17 but wasn’t strong enough to stay at that level and retreated. Now it is showing bullish move.
It is traded below Ichimoku Cloud and tried to break inside it.
There is possibility of the price going up into the Cloud.
Base line of Ichimoku and the Cloud go in parallel. Additional indicator’s (MACD) lines go in parallel too. There seem to be a short-term Flat (sideways trend) on the marked.
It is likely that Bitcoin will go down below Conversion line to try to break 10000 level several times during the week. It also can try to break through the Conversion line at approx.11800/11900.*
It is very risky to buy BTC now. Though there is a short-term Flat now the bearish trend will surely continue very soon.
Short-term trading is possible but there can be a very quick change to downtrend so buying BTC now is not recommended.
If BTC was previously bought and not sold yet there is high time to sell it now. Or there may be possibility to sell it if the price goes up to try breaking Conversion line of Ichimoku (approx.11800/11900). It is very unlikely that BTC will go higher than this level soon (can possibly come to this level in a year if ever at all).
*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 bought at 12900 and the price began falling down. I saw your warnings but decided to trade. Now I see it was very unwise.
Going against trend is always very risky and people often lose their money doing so. I hope you put a proper stop-loss at least.