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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 (0.04200 to 0.04000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.04200)
    • Peak on 01/08/2021
    • Resistance on 01/08/2021
  • Ending of entry zone (0.04000)
    • Resistance on 01/07/2021
    • Resistance on 01/08/2021
    • Resistance on 01/14/2021
    • Resistance on 01/15/2021

DateApril 11, 2021 - 00:49
Currentrange bound
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.04000, continuation of uptrend is expected.
  • We make sure when the resistance at 0.06155 breaks.
  • If the support at 0.04000 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.0574 on 2021-02-20 and the trough at 0.0616 on 2021-03-13, the probability of downtrend continuation is decreased and the probability of continuation of uptrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 0.06000 on 04/02/2021, so more losses to support(s) 0.06000, 0.05825, 0.05205 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 62.

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) Sun, 2 May 2021
BIT (BITUSD) free Tue, 27 Apr 2021
BIT (BITUSD) Sat, 17 Apr 2021
BIT (BITUSD) Sun, 11 Apr 2021
BIT (BITUSD) Sun, 4 Apr 2021