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Weekly forecast BIT technical chart
Symbol BITUSD

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Trade Setup

#BITUSD
Total Profit: 7884 pip (841%)
Closed trade(s): 3249 pip Profit (347%)
Open trade(s): 4635 pip Profit (494%)

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 (4%).
TP2 @ 0.01045 touched at 2020.07.27 with 107 pip Profit (11%).
TP3 @ 0.01180 touched at 2020.08.01 with 242 pip Profit (26%).
TP4 @ 0.01370 touched at 2020.10.27 with 432 pip Profit (46%).
TP5 @ 0.01545 touched at 2020.11.06 with 607 pip Profit (65%).
TP6 @ 0.01715 touched at 2020.11.17 with 777 pip Profit (83%).
TP7 @ 0.01985 touched at 2020.12.01 with 1047 pip Profit (112%).
37 (4%) + 107 (11%) + 242 (26%) + 432 (46%) + 607 (65%) + 777 (83%) + 1047 (112%) = 3249 pip (347%)

Open Profit:
Profit for one trade is 0.05573(current price) - 0.00938(open price) = 4635 pip (494%)
1 trade(s) still open, therefore total profit for open trade(s) is 4635 (494%) x 1 = 4635 pip (494%)

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 0.04000 is broken, we will close open trades.

DateMarch 23, 2021 - 17:19
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.04000 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 0.04000 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.0419 on 2021-01-08 and the peak at 0.05825 on 2021-02-21, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 0.06162 on 03/12/2021, so more losses to support(s) 0.05205, 0.04705, 0.04500 and minimum to Major Support (0.04000) 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 54.

Take Profits:

  1. 0.04705
  2. 0.05205
  3. 0.05825
  4. 0.06000
  5. 0.06500
  6. 0.07000
  7. 0.07500
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