- 2018-02-25
Bitcoin (BTC/USD) is finishing its trading week near 9580.
BTC was showing bullish move almost the whole week.
It broke down through the Conversion line and started trading below it.
There is possibility of the price going further down to try to break the Base line at 9000/8900.
We can see that the Star is almost formed today. And MACD’s Signal line is going up.
So it is more likely that Bitcoin will go stop falling trend of this week and go up to the Resistance line of downtrending corridor. It can try to break the Conversion line from below for 1-2 days. After it opens above it the price can go up as far as 11000/11500 till the end of the week.*
It is not as profitable to buy BTC now as during intensive uptrending. There will be a short-term uptrend now (to the resistance level of the corridor). Short-term trading is possible.
If BTC was previously bought (there was a signal 8 days ago) and not sold yet there will be possibility to sell it at higher price at the end of the week.
There will be also possibility to buy when BTC breaks the Conversion line and start a new period above it. That will be at approx. 10300/10500 (depending on the level of Conversion line on the day of BTC’s breaking through it).
*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.