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Weekly forecast BIT technical chart
Symbol BITUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.00830 to 0.00765). 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 0.00885, 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 0.00885 and expect to reach short-term targets.

  • Beginning of entry zone (0.00830)
    • Resistance on 11/20/2017
    • Resistance on 11/21/2017
    • Resistance on 11/22/2017
    • Resistance on 11/23/2017
    • Resistance on 11/24/2017
    • Support on 02/02/2018
    • Support on 02/03/2018
    • Resistance on 02/05/2018
    • Resistance on 02/07/2018
    • Resistance on 02/08/2018
    • Support on 02/12/2018
    • Support on 02/13/2018
    • Support on 03/09/2018
    • Support on 03/16/2018
    • Support on 03/20/2018
    • Support on 03/23/2018
    • Support on 03/25/2018
    • Resistance on 04/13/2018
    • Resistance on 04/14/2018
    • Resistance on 04/18/2018
    • Resistance on 04/19/2018
    • Support on 05/11/2018
    • Support on 05/12/2018
    • Support on 05/13/2018
    • Support on 05/14/2018
    • Support on 05/21/2018
    • Resistance on 07/24/2018
    • Resistance on 07/25/2018
    • Resistance on 07/26/2018
    • Resistance on 07/27/2018
    • Resistance on 07/28/2018
    • Resistance on 07/29/2018
    • Resistance on 07/30/2018
    • Resistance on 05/16/2019
    • Resistance on 05/20/2019
    • Support on 05/31/2019
    • Support on 06/03/2019
    • Resistance on 06/13/2019
    • Support on 09/24/2019
    • Support on 09/25/2019
    • Resistance on 09/30/2019
    • Resistance on 10/03/2019
    • Resistance on 10/04/2019
    • Resistance on 10/07/2019
    • Resistance on 10/08/2019
    • Support on 10/11/2019
    • Support on 10/12/2019
    • Resistance on 10/20/2019
    • Resistance on 10/21/2019
    • Resistance on 10/22/2019
    • Resistance on 01/08/2020
    • Resistance on 01/11/2020
  • Ending of entry zone (0.00765)
    • Resistance on 11/08/2017
    • Support on 11/17/2017
    • Support on 11/18/2017
    • Support on 11/19/2017
    • Support on 02/07/2018
    • Support on 02/08/2018
    • Support on 02/09/2018
    • Support on 03/15/2018
    • Support on 03/17/2018
    • Support on 03/18/2018
    • Support on 03/27/2018
    • Support on 03/28/2018
    • Resistance on 05/31/2018
    • Resistance on 06/01/2018
    • Resistance on 06/02/2018
    • Resistance on 06/05/2018
    • Resistance on 06/10/2018
    • Resistance on 07/18/2018
    • Resistance on 07/20/2018
    • Resistance on 07/22/2018
    • Support on 07/24/2018
    • Support on 07/31/2018
    • Resistance on 10/15/2018
    • Support on 05/15/2019
    • Support on 05/16/2019
    • Support on 05/20/2019
    • Support on 05/22/2019
    • Support on 05/23/2019
    • Support on 06/04/2019
    • Support on 06/05/2019
    • Support on 06/06/2019
    • Support on 06/07/2019
    • Support on 06/09/2019
    • Support on 06/10/2019
    • Resistance on 11/22/2019
    • Resistance on 11/27/2019
    • Resistance on 11/28/2019
    • Resistance on 12/01/2019
    • Resistance on 12/04/2019
    • Resistance on 12/06/2019
    • Resistance on 12/07/2019
    • Resistance on 12/08/2019
    • Resistance on 12/09/2019
    • Resistance on 12/23/2019
    • Support on 01/10/2020

DateJanuary 16, 2020 - 20:15
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 an uptrend wave above 0.00645 would begin in Midterm.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.00645 on 12/18/2019, so more gains to resistance(s) 0.00885, 0.00950, 0.01045 and more heights 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 71.

Take Profits:

  1. 0.00950
  2. 0.01045
  3. 0.01180
  4. 0.01370
  5. 0.01545
  6. 0.01715
  7. 0.01985
Click on the level to view price action history.

Symbol Released Current Forecast
BIT (BITUSD) free Thu, 14 Oct 2021
BIT (BITUSD) Sat, 9 Oct 2021
BIT (BITUSD) free Sat, 2 Oct 2021
BIT (BITUSD) Sat, 25 Sep 2021
BIT (BITUSD) Sun, 19 Sep 2021