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Weekly forecast BIT technical chart

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Trade Setup
Total Profit: 208 pip
Closed trade(s): 0 pip Profit
Open trade(s): 208 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.00942 based on 'Valley' entry method at 2020.07.21.

Open Profit:
Profit for one trade is 0.00968(current price) - 0.00942(open price) = 26 pip
8 trade(s) still open, therefore total profit for open trade(s) is 26 x 8 = 208 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.

DateJuly 25, 2020 - 20:01
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.00885, beginning of uptrend is expected.
  • We make sure when the resistance at 0.01045 breaks.
  • If the support at 0.00885 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.00901 on 07/16/2020, so more gains to resistance(s) 0.00975 and maximum to Major Resistance (0.01045) 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 67.

Take Profits:

  1. 0.00975
  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) new Mon, 10 Aug 2020
BIT (BITUSD) Sun, 2 Aug 2020
BIT (BITUSD) free Sat, 25 Jul 2020
BIT (BITUSD) Tue, 21 Jul 2020
BIT (BITUSD) Sun, 19 Jul 2020