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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (7894.65 to 7248.75). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 10032.95, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 10032.95 and expect to reach short-term targets.

  • Beginning of entry zone (7894.65)
    • Resistance on 04/12/2018
    • Support on 04/18/2018
    • Support on 05/18/2018
    • Resistance on 05/13/2019
    • Resistance on 05/14/2019
    • Resistance on 05/17/2019
    • Resistance on 05/23/2019
    • Support on 05/26/2019
    • Resistance on 06/07/2019
    • Resistance on 06/08/2019
    • Resistance on 06/09/2019
    • Support on 06/12/2019
    • Support on 09/26/2019
    • Support on 09/27/2019
    • Support on 09/29/2019
    • Support on 09/30/2019
    • Support on 10/06/2019
    • Support on 10/07/2019
    • Support on 10/16/2019
    • Support on 10/17/2019
    • Support on 10/18/2019
    • Support on 10/19/2019
    • Support on 10/20/2019
    • Resistance on 11/29/2019
    • Resistance on 11/30/2019
    • Resistance on 12/04/2019
    • Resistance on 03/12/2020
  • Ending of entry zone (7248.75)
    • Resistance on 03/30/2018
    • Resistance on 03/31/2018
    • Resistance on 04/09/2018
    • Support on 05/24/2018
    • Support on 05/25/2018
    • Support on 05/27/2018
    • Support on 05/30/2018
    • Support on 05/31/2018
    • Support on 06/01/2018
    • Support on 08/03/2018
    • Resistance on 09/01/2018
    • Resistance on 10/15/2018
    • Resistance on 05/12/2019
    • Support on 05/19/2019
    • Support on 11/22/2019
    • Support on 11/23/2019
    • Support on 12/01/2019
    • Support on 12/02/2019
    • Support on 12/03/2019
    • Support on 12/10/2019
    • Resistance on 12/18/2019
    • Resistance on 12/19/2019
    • Resistance on 12/20/2019
    • Resistance on 12/21/2019
    • Resistance on 12/26/2019
    • Support on 12/28/2019
    • Support on 12/30/2019
    • Support on 01/04/2020
    • Resistance on 04/02/2020
    • Resistance on 04/06/2020
    • Resistance on 04/07/2020
    • Resistance on 04/18/2020
    • Resistance on 04/19/2020
    • Resistance on 04/20/2020

DateMay 25, 2020 - 19:32
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 3995.60, beginning of uptrend is expected.
  • We make sure when the resistance at 10032.95 breaks.
  • If the support at 3995.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 10030.64 on 05/08/2020, so more losses to support(s) 8474.15, 7894.65, 7248.75 and minimum to Major Support (3995.60) 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 50.

Take Profits:

  1. 8474.15
  2. 9108.30
  3. 10032.95
  4. 10481.90
  5. 12316.65
  6. 13737.50
  7. 15000.00
  8. 17095.65
  9. 19704.20
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) new Sun, 17 Mar 2024
Bitcoin (BTCUSD) free Sun, 10 Mar 2024
Bitcoin (BTCUSD) free Sun, 3 Mar 2024
Bitcoin (BTCUSD) free Sun, 25 Feb 2024
Bitcoin (BTCUSD) free Mon, 19 Feb 2024