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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup
#BTCUSD
Total Profit: 7120416 pip
Closed trade(s): 3231658 pip Profit
Open trade(s): 3888758 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.
TP4 @ 13737.50 touched at 2020.10.28 with 435524 pip Profit.
TP5 @ 15000.00 touched at 2020.11.05 with 561774 pip Profit.
TP6 @ 17095.65 touched at 2020.11.17 with 771339 pip Profit.
TP7 @ 19704.20 touched at 2020.11.30 with 1032194 pip Profit.
38214 + 99174 + 293439 + 435524 + 561774 + 771339 + 1032194 = 3231658 pip

Open Profit:
Profit for one trade is 48269.84(current price) - 9382.26(open price) = 3888758 pip
1 trade(s) still open, therefore total profit for open trade(s) is 3888758 x 1 = 3888758 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 40000.00 is broken, we will close open trades.

DateMarch 4, 2021 - 22:38
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 40000.00 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 40000.00 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 41917.85 on 2021-01-08 and the peak at 58252.85 on 2021-02-21, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 43213.30 on 02/28/2021, so more gains to resistance(s) 52051.70, 58252.85, 60000.00 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 52.

Take Profits:

  1. 45000.00
  2. 47060.45
  3. 52051.70
  4. 58252.85
  5. 60000.00
  6. 65000.00
  7. 70000.00
  8. 75000.00
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) Sun, 24 Mar 2024
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