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Weekly forecast Bitcoin Cash technical chart
Symbol BCHUSD

Download MT4 template file

Trade Setup
#BCHUSD
Total Profit: 26349 pip
Closed trade(s): 26349 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 13 BUY trade(s) @ 435.63 based on 'Valley' entry method at 2018.09.19.

Closed Profit:
TP1 @ 497.75 touched at 2018.09.21 with 6212 pip Profit.
TP2 @ 637.00 touched at 2018.11.07 with 20137 pip Profit.
6212 + 20137 = 26349 pip

11 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (204.85 to 194.40). 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 266.75, 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 266.75 and expect to reach short-term targets.

  • Beginning of entry zone (204.85)
    • Support on 08/05/2017
    • Support on 09/26/2019
    • Support on 10/23/2019
    • Support on 10/24/2019
    • Support on 11/22/2019
    • Support on 11/23/2019
    • Support on 11/24/2019
    • Support on 11/25/2019
    • Support on 11/27/2019
  • Ending of entry zone (194.40)
    • Support on 10/23/2019
    • Support on 11/22/2019
    • Support on 11/25/2019

DateTue, 12/03/2019 - 17:14
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 190.10, beginning of uptrend is expected.
  • We make sure when the resistance at 359.50 breaks.
  • If the support at 190.10 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 205.1 on 2019-09-26 and the trough at 194.4 on 2019-11-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 195.40 on 11/25/2019, so more gains to resistance(s) 266.75, 308.85 and maximum to Major Resistance (359.50) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 35.

Take Profits:

  1. 308.85
  2. 359.50
  3. 474.25
  4. 637.00
  5. 832.10
  6. 1120.15
  7. 1686.75
  8. 2145.55
  9. 2604.40
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin Cash (BCHUSD) new Sun, 26 Jan 2020
Bitcoin Cash (BCHUSD) free Sun, 12 Jan 2020
Bitcoin Cash (BCHUSD) Mon, 30 Dec 2019
Bitcoin Cash (BCHUSD) Tue, 24 Dec 2019
Bitcoin Cash (BCHUSD) Sun, 15 Dec 2019