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Weekly forecast BIT technical chart

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Trade Setup
Total Profit: 818 pip
Closed trade(s): 55 pip Profit
Open trade(s): 763 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.00895 based on 'Valley' entry method at 2020.01.27.

Closed Profit:
TP1 @ 0.00950 touched at 2020.01.30 with 55 pip Profit.

Open Profit:
Profit for one trade is 0.01004(current price) - 0.00895(open price) = 109 pip
7 trade(s) still open, therefore total profit for open trade(s) is 109 x 7 = 763 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.

DateSun, 02/09/2020 - 18:36
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.00830 would begin in Midterm.

Technical analysis:

  • A trough is formed in daily chart at 0.00820 on 01/24/2020, so more gains to resistance(s) 0.01045, 0.01180, 0.01370 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 74.

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) Sun, 16 Feb 2020
BIT (BITUSD) free Sun, 9 Feb 2020
BIT (BITUSD) free Sun, 2 Feb 2020
BIT (BITUSD) Sun, 26 Jan 2020
BIT (BITUSD) free Thu, 16 Jan 2020