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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup
#BTCUSD
Total Profit: 243576 pip
Closed trade(s): 0 pip Profit
Open trade(s): 243576 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 9382.26 based on 'Valley' entry method at 2020.07.21.

Open Profit:
Profit for one trade is 9686.73(current price) - 9382.26(open price) = 30447 pip
8 trade(s) still open, therefore total profit for open trade(s) is 30447 x 8 = 243576 pip

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 25, 2020 - 20:00
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 8836.40, beginning of uptrend is expected.
  • We make sure when the resistance at 10374.00 breaks.
  • If the support at 8836.40 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.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 9016.25 on 07/16/2020, so more gains to resistance(s) 9764.40 and maximum to Major Resistance (10374.00) 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 68.

Take Profits:

  1. 9764.40
  2. 10374.00
  3. 12316.65
  4. 13737.50
  5. 15000.00
  6. 17095.65
  7. 19704.20
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) new Mon, 10 Aug 2020
Bitcoin (BTCUSD) Sun, 2 Aug 2020
Bitcoin (BTCUSD) free Sat, 25 Jul 2020
Bitcoin (BTCUSD) Tue, 21 Jul 2020
Bitcoin (BTCUSD) Sun, 19 Jul 2020