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Weekly forecast Bitcoin Cash technical chart
Symbol BCHUSD

Download MT4 template file

Trade Setup
#BCHUSD
Total Profit: 36801 pip
Closed trade(s): 36801 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 258.38 based on 'Valley' entry method at 2020.01.10.

Closed Profit:
TP1 @ 309.40 touched at 2020.01.14 with 5102 pip Profit.
TP2 @ 359.50 touched at 2020.01.14 with 10112 pip Profit.
TP3 @ 474.25 touched at 2020.02.12 with 21587 pip Profit.
5102 + 10112 + 21587 = 36801 pip

7 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 (185.30 to 170.20). 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 252.20, 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 252.20 and expect to reach short-term targets.

  • Beginning of entry zone (185.30)
    • Support on 08/06/2017
    • Support on 12/19/2019
    • Support on 12/20/2019
    • Support on 12/21/2019
    • Support on 12/22/2019
    • Support on 12/24/2019
    • Support on 12/25/2019
    • Support on 12/26/2019
    • Support on 12/27/2019
  • Ending of entry zone (170.20)
    • Trough on 12/17/2019
    • Support on 12/18/2019
DateMarch 10, 2020 - 19:54
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 354.15 on 03/06/2020, so more losses to support(s) 252.20 and minimum to Trend Hunter Buy Zone (185.30 to 170.20) 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. 309.40
  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) Sun, 14 Apr 2024
Bitcoin Cash (BCHUSD) free Sun, 7 Apr 2024
Bitcoin Cash (BCHUSD) free Sun, 31 Mar 2024
Bitcoin Cash (BCHUSD) free Sun, 24 Mar 2024
Bitcoin Cash (BCHUSD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on BCHUSD.