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Weekly forecast Bitcoin Cash technical chart
Symbol BCHUSD

Download MT4 template file

Trade Setup

#BCHUSD
Total Profit: 89798 pip
Closed trade(s): 23259 pip Profit
Open trade(s): 66539 pip Profit

Trade Setup:
We opened 13 BUY trade(s) @ 451.08 based on 'Valley' entry method at 2018.09.20.

Closed Profit:
TP1 @ 497.75 touched at 2018.09.21 with 4667 pip Profit.
TP2 @ 637.00 touched at 2018.11.07 with 18592 pip Profit.
4667 + 18592 = 23259 pip

Open Profit:
Profit for one trade is 511.57(current price) - 451.08(open price) = 6049 pip
11 trade(s) still open, therefore total profit for open trade(s) is 6049 x 11 = 66539 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.

DateNovember 13, 2018 - 10:34
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 190.1, resumption of uptrend is expected.
  • We make sure when the resistance at 637.0 breaks.
  • If the support at 190.1 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 460.75 on 2018-08-14 and the trough at 405.45 on 2018-09-12, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • The RSI resistance #2 at 60 is broken, so the probability of resumption of uptrend is increased.
  • While the RSI uptrend #3 is not broken, bullish wave in price would continue.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 497.75
  2. 637.00
  3. 748.60
  4. 832.10
  5. 945.70
  6. 1148.10
  7. 1292.20
  8. 1610.45
  9. 1773.75
  10. 1986.65
  11. 2890.00
  12. 4088.05
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin Cash (BCHUSD) new Sun, 17 Mar 2024
Bitcoin Cash (BCHUSD) free Sun, 10 Mar 2024
Bitcoin Cash (BCHUSD) free Mon, 4 Mar 2024
Bitcoin Cash (BCHUSD) free Sat, 24 Feb 2024
Bitcoin Cash (BCHUSD) Mon, 19 Feb 2024