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Weekly forecast BIT technical chart
Symbol BITUSD

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Trade Setup
#BITUSD
Total Profit: 1401 pip
Closed trade(s): 386 pip Profit
Open trade(s): 1015 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 0.00938 based on 'Valley' entry method at 2020.07.21.

Closed Profit:
TP1 @ 0.00975 touched at 2020.07.26 with 37 pip Profit.
TP2 @ 0.01045 touched at 2020.07.27 with 107 pip Profit.
TP3 @ 0.01180 touched at 2020.08.01 with 242 pip Profit.
37 + 107 + 242 = 386 pip

Open Profit:
Profit for one trade is 0.01141(current price) - 0.00938(open price) = 203 pip
5 trade(s) still open, therefore total profit for open trade(s) is 203 x 5 = 1015 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.
  • If the Midterm level 0.00975 is broken, we will close open trades.

DateOctober 18, 2020 - 12:44
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.00975, beginning of uptrend is expected.
  • We make sure when the resistance at 0.01245 breaks.
  • If the support at 0.00975 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 0.00975 is broken.

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 0.01039 on 10/02/2020, so more gains to resistance(s) 0.01180 and maximum to Major Resistance (0.01245) 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 60.

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) Tue, 1 Dec 2020
BIT (BITUSD) free Wed, 25 Nov 2020
BIT (BITUSD) Tue, 17 Nov 2020
BIT (BITUSD) free Sun, 8 Nov 2020
BIT (BITUSD) free Sun, 1 Nov 2020