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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup
#BTCUSD
Total Profit: 3828550 pip (408%)
Closed trade(s): 2199464 pip Profit (234%)
Open trade(s): 1629086 pip Profit (174%)

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 (4%).
TP2 @ 10374.00 touched at 2020.07.27 with 99174 pip Profit (11%).
TP3 @ 12316.65 touched at 2020.08.17 with 293439 pip Profit (31%).
TP4 @ 13737.50 touched at 2020.10.28 with 435524 pip Profit (46%).
TP5 @ 15000.00 touched at 2020.11.05 with 561774 pip Profit (60%).
TP6 @ 17095.65 touched at 2020.11.17 with 771339 pip Profit (82%).
38214 (4%) + 99174 (11%) + 293439 (31%) + 435524 (46%) + 561774 (60%) + 771339 (82%) = 2199464 pip (234%)

Open Profit:
Profit for one trade is 17527.69(current price) - 9382.26(open price) = 814543 pip (87%)
2 trade(s) still open, therefore total profit for open trade(s) is 814543 (87%) x 2 = 1629086 pip (174%)

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 12316.65 is broken, we will close open trades.

DateNovember 17, 2020 - 22:33
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 12316.65 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 12316.65 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 14414.65 on 11/07/2020, so more gains to resistance(s) 19704.20 and more heights 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 80.

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 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