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Weekly forecast Bitcoin Cash / Bitcoin technical chart
Symbol BCHBTC

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.0281 to 0.0251). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 0.03475, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 0.03475 and expect to reach short-term targets.

  • Beginning of entry zone (0.0281)
    • Support on 07/11/2019
    • Support on 07/15/2019
    • Support on 07/16/2019
    • Support on 07/19/2019
    • Support on 08/07/2019
    • Support on 08/08/2019
    • Resistance on 08/10/2019
    • Support on 08/15/2019
    • Support on 08/31/2019
    • Support on 09/02/2019
    • Support on 09/03/2019
    • Resistance on 09/05/2019
    • Resistance on 09/06/2019
    • Resistance on 09/28/2019
    • Resistance on 09/29/2019
    • Resistance on 09/30/2019
    • Resistance on 10/01/2019
    • Resistance on 10/06/2019
    • Resistance on 10/09/2019
    • Resistance on 10/10/2019
    • Resistance on 10/20/2019
    • Support on 10/22/2019
    • Support on 10/25/2019
    • Support on 10/29/2019
    • Support on 11/22/2019
    • Support on 11/23/2019
    • Support on 12/04/2019
    • Support on 12/06/2019
    • Support on 12/07/2019
    • Support on 12/08/2019
    • Support on 12/09/2019
    • Support on 12/10/2019
  • Ending of entry zone (0.0251)
    • Support on 07/15/2019
    • Support on 09/25/2019
DateDecember 15, 2019 - 15:10
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.023600, beginning of uptrend is expected.
  • We make sure when the resistance at 0.065150 breaks.
  • If the support at 0.023600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.0253 on 2019-07-15 and the trough at 0.02505 on 2019-09-25, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 0.0334 on 11/12/2019, so more losses to support(s) 0.0281, 0.0251 and minimum to Major Support (0.0236) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 50.

Take Profits:

  1. 0.0403
  2. 0.0480
  3. 0.0549
  4. 0.0652
  5. 0.0868
  6. 0.1055
  7. 0.1245
  8. 0.1857
Click on the level to view price action history.
Symbol Released Current Forecast
Bitcoin Cash / Bitcoin (BCHBTC) Tue, 2 Apr 2024
Bitcoin Cash / Bitcoin (BCHBTC) Tue, 12 Mar 2024
Bitcoin Cash / Bitcoin (BCHBTC) Mon, 19 Feb 2024
Bitcoin Cash / Bitcoin (BCHBTC) Tue, 30 Jan 2024
Bitcoin Cash / Bitcoin (BCHBTC) Wed, 10 Jan 2024
History
Daily-Trading-Opportunities on BCHBTC.