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Weekly forecast BIT technical chart
Symbol BITUSD

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Trade Setup

#BITUSD
Total Profit: 7126 pip (205%)
Closed trade(s): 1590 pip Profit (45%)
Open trade(s): 5536 pip Profit (160%)

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

Closed Profit:
TP1 @ 0.03785 touched at 2021.07.26 with 320 pip Profit (9%).
TP2 @ 0.04000 touched at 2021.07.26 with 535 pip Profit (15%).
TP3 @ 0.04200 touched at 2021.07.31 with 735 pip Profit (21%).
320 (9%) + 535 (15%) + 735 (21%) = 1590 pip (45%)

Open Profit:
Profit for one trade is 0.04157(current price) - 0.03465(open price) = 692 pip (20%)
8 trade(s) still open, therefore total profit for open trade(s) is 692 (20%) x 8 = 5536 pip (160%)

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 31, 2021 - 09:53
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

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) 0.04200, 0.04500 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 74.

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 Sat, 4 Sep 2021
BIT (BITUSD) Sat, 28 Aug 2021
BIT (BITUSD) Sat, 21 Aug 2021
BIT (BITUSD) Sat, 14 Aug 2021
BIT (BITUSD) free Sat, 7 Aug 2021