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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 15, 2019 - 19:29
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 7446.80, resumption of uptrend is expected.
  • We make sure when the resistance at 9243.50 breaks.
  • If the support at 7446.80 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 7767.40 on 10/07/2019, so more gains to resistance(s) 8200.00 and maximum to Major Resistance (9243.50) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Supports and Resistances:

  1. 19704.20
  2. 13737.50
  3. 12688.90
  4. 11247.05
  5. 10404.45
  6. 9243.50
  7. 8200.00
  8. 6094.35
  9. 5700.00
  10. 5245.00
  11. 4409.80
  12. 4189.00
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) new Sun, 17 Mar 2024
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