- 2017-12-24
Bitcoin (BTC/USD) is finishing its trading week near 13480.
BTC reached 10700 on 2017-12-22 and retreated to 13173. Now it is still showing bearish move.
It is traded below the Conversion and Base lines which means the end of 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 Conversion line went lower and additional indicator’s (MACD) lines showed the change of trend at the beginning of the week. It shows us that the bullish trend ended here.
So it is much more likely that Bitcoin will go up to try 16000/16500 and then will go down to try 11000 again.
If BTC doesn’t go lower then 11000/10500 levels 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.
Still for short-term trading there will be possibility to buy if BTC crosses indicators lines from below and goes higher then 14100.
If BTC was previously bought and not sold yet there will be a proper signal to sell when Conversion line crosses Base Line. BTC is highly unlikely to go up more than 16000/16500.
*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.