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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup
#BTCUSD
Total Profit: 910002 pip
Closed trade(s): 430827 pip Profit
Open trade(s): 479175 pip Profit

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

Closed Profit:
TP1 @ 9764.40 touched at 2020.07.26 with 38214 pip Profit.
TP2 @ 10374.00 touched at 2020.07.27 with 99174 pip Profit.
TP3 @ 12316.65 touched at 2020.08.17 with 293439 pip Profit.
38214 + 99174 + 293439 = 430827 pip

Open Profit:
Profit for one trade is 10340.61(current price) - 9382.26(open price) = 95835 pip
5 trade(s) still open, therefore total profit for open trade(s) is 95835 x 5 = 479175 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.
  • If the Midterm level 9764.40 is broken, we will close open trades.

DateSeptember 12, 2020 - 14:22
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 9764.40, beginning of uptrend is expected.
  • We make sure when the resistance at 12316.65 breaks.
  • If the support at 9764.40 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 9764.40 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 12068.75 on 09/02/2020, so more losses minimum to Major Support (9764.40) 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 40.

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) free Sat, 12 Sep 2020
Bitcoin (BTCUSD) Wed, 2 Sep 2020
Bitcoin (BTCUSD) Mon, 24 Aug 2020
Bitcoin (BTCUSD) free Sun, 16 Aug 2020
Bitcoin (BTCUSD) Mon, 10 Aug 2020