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Weekly forecast BIT technical chart
Symbol BITUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.00790 to 0.00725). 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 0.01005, 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 0.01005 and expect to reach short-term targets.

  • Beginning of entry zone (0.00790)
    • Resistance on 11/08/2017
    • Resistance on 11/18/2017
    • Support on 11/20/2017
    • Support on 11/21/2017
    • Support on 11/24/2017
    • Support on 02/02/2018
    • Support on 02/04/2018
    • Resistance on 02/06/2018
    • Support on 02/09/2018
    • Support on 02/11/2018
    • Support on 02/12/2018
    • Support on 03/14/2018
    • Support on 03/15/2018
    • Support on 03/16/2018
    • Support on 03/17/2018
    • Support on 03/18/2018
    • Resistance on 03/29/2018
    • Resistance on 04/12/2018
    • Resistance on 04/13/2018
    • Support on 04/18/2018
    • Support on 05/18/2018
    • Support on 07/26/2018
    • Support on 07/27/2018
    • Support on 07/30/2018
    • Resistance on 05/14/2019
    • Resistance on 05/17/2019
    • Resistance on 05/23/2019
    • Support on 05/26/2019
    • Resistance on 06/07/2019
    • Resistance on 06/08/2019
    • Resistance on 06/09/2019
    • Support on 09/26/2019
    • Support on 09/27/2019
    • Support on 09/29/2019
    • Support on 09/30/2019
    • Support on 10/06/2019
    • Support on 10/07/2019
    • Support on 10/16/2019
    • Support on 10/17/2019
    • Support on 10/18/2019
    • Support on 10/19/2019
    • Support on 10/20/2019
    • Resistance on 11/29/2019
    • Resistance on 11/30/2019
    • Resistance on 12/04/2019
    • Resistance on 03/12/2020
  • Ending of entry zone (0.00725)
    • Resistance on 11/02/2017
    • Resistance on 11/03/2017
    • Support on 11/05/2017
    • Resistance on 11/10/2017
    • Support on 11/16/2017
    • Support on 02/07/2018
    • Support on 03/18/2018
    • Resistance on 04/09/2018
    • Support on 05/24/2018
    • Support on 05/25/2018
    • Support on 05/27/2018
    • Support on 05/30/2018
    • Support on 05/31/2018
    • Support on 08/03/2018
    • Resistance on 09/01/2018
    • Resistance on 10/15/2018
    • Resistance on 05/12/2019
    • Support on 05/19/2019
    • Support on 11/22/2019
    • Support on 11/23/2019
    • Support on 12/01/2019
    • Support on 12/02/2019
    • Support on 12/03/2019
    • Resistance on 12/18/2019
    • Resistance on 12/19/2019
    • Resistance on 12/20/2019
    • Resistance on 12/21/2019
    • Resistance on 12/26/2019
    • Support on 12/30/2019
    • Support on 01/04/2020
    • Resistance on 04/02/2020
    • Resistance on 04/06/2020
    • Resistance on 04/07/2020
    • Resistance on 04/18/2020
    • Resistance on 04/19/2020
    • Resistance on 04/20/2020

DateMay 25, 2020 - 19:35
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.00400, beginning of uptrend is expected.
  • We make sure when the resistance at 0.01005 breaks.
  • If the support at 0.00400 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.00993 on 05/18/2020, so more losses to support(s) 0.00845, 0.00790, 0.00725 and minimum to Major Support (0.00400) 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 50.

Take Profits:

  1. 0.00845
  2. 0.00920
  3. 0.01005
  4. 0.01045
  5. 0.01180
  6. 0.01370
  7. 0.01545
  8. 0.01715
  9. 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