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Weekly forecast Bitcoin Cash / Bitcoin technical chart
Symbol BCHBTC

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Trade Setup
#BCHBTC
Total Profit: 4955 pip
Closed trade(s): 545 pip Profit
Open trade(s): 4410 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 0.02775 (day close price) based on 'Valley' at 2019.12.27.

Closed Profit:
TP1 @ 0.03320 touched at 2020.01.11 with 545 pip Profit.

Open Profit:
Profit for one trade is 0.03265(current price) - 0.02775(open price) = 490 pip
9 trade(s) still open, therefore total profit for open trade(s) is 490 x 9 = 4410 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJanuary 12, 2020 - 18:12
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.0652 would begin in Midterm.

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 trough is formed in daily chart at 0.0255 on 12/24/2019, so more gains to resistance(s) 0.0332, 0.0403, 0.0480 and maximum to Major Resistance (0.0652) 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 69.

Take Profits:

  1. 0.0332
  2. 0.0403
  3. 0.0480
  4. 0.0549
  5. 0.0652
  6. 0.0868
  7. 0.1055
  8. 0.1245
  9. 0.1857
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin Cash / Bitcoin (BCHBTC) new Mon, 10 Aug 2020
Bitcoin Cash / Bitcoin (BCHBTC) Sun, 2 Aug 2020
Bitcoin Cash / Bitcoin (BCHBTC) Sat, 25 Jul 2020
Bitcoin Cash / Bitcoin (BCHBTC) Sun, 19 Jul 2020
Bitcoin Cash / Bitcoin (BCHBTC) Sun, 12 Jul 2020