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Weekly forecast BIT technical chart
Symbol BITUSD

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Trade Setup

#BITUSD
Total Profit: -814 pip (-22%)
Closed trade(s): 0 pip Profit (0%)
Open trade(s): -814 pip Profit (-22%)

Trade Setup:
We opened 11 BUY trade(s) @ 0.03465 based on 'Valley' entry method at 2021.06.28.

Open Profit:
Profit for one trade is 0.03391(current price) - 0.03465(open price) = -74 pip (-2%)
11 trade(s) still open, therefore total profit for open trade(s) is -74 (-2%) x 11 = -814 pip (-22%)

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 24, 2021 - 21:39
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.02910, beginning of uptrend is expected.
  • We make sure when the resistance at 0.04700 breaks.
  • If the support at 0.02910 is broken, the short-term forecast -beginning of uptrend- will be invalid.

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 0.02950 on 07/20/2021, so more gains to resistance(s) 0.03785, 0.04000, 0.04200 and maximum to Major Resistance (0.04700) 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. 0.03785
  2. 0.04000
  3. 0.04200
  4. 0.04500
  5. 0.04700
  6. 0.05205
  7. 0.05560
  8. 0.05825
  9. 0.06155
  10. 0.06500
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