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Weekly forecast Bitcoin Cash technical chart

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Trade Setup

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.

DateTue, 11/13/2018 - 10:34
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 190.10, resumption of uptrend is expected.
  • We make sure when the resistance at 637.00 breaks.
  • If the support at 190.10 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) free Tue, 13 Nov 2018
Bitcoin Cash (BCHUSD) free Mon, 5 Nov 2018
Bitcoin Cash (BCHUSD) Wed, 3 Oct 2018
Bitcoin Cash (BCHUSD) Thu, 20 Sep 2018
Bitcoin Cash (BCHUSD) Thu, 26 Jul 2018