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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup
#BTCUSD
Total Profit: 1448907 pip
Closed trade(s): 430827 pip Profit
Open trade(s): 1018080 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 11418.42(current price) - 9382.26(open price) = 203616 pip
5 trade(s) still open, therefore total profit for open trade(s) is 203616 x 5 = 1018080 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.

DateOctober 18, 2020 - 12:44
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

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:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 10138.25 on 09/23/2020, so more gains maximum to Major Resistance (12316.65) 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 60.

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 Tue, 1 Dec 2020
Bitcoin (BTCUSD) free Wed, 25 Nov 2020
Bitcoin (BTCUSD) free Tue, 17 Nov 2020
Bitcoin (BTCUSD) free Sun, 8 Nov 2020
Bitcoin (BTCUSD) free Sun, 1 Nov 2020