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Weekly forecast Bitcoin technical chart
Symbol BTCUSD
Trade Setup

#BTCUSD
Total Profit: 6771830 point (309%)
Closed trade(s): 1299940 point Profit
Open trade(s): 5471890 point Profit

Trade Setup:
We opened 14 BUY trades @ 21997.11 based on 'Valley' entry method at 2023-03-12.

Closed Profit:
TP1 @ 22799.00 touched at 2023-03-13 with 80189 point Profit. (4%)
TP2 @ 24255.00 touched at 2023-03-13 with 225789 point Profit. (10%)
TP3 @ 25250.00 touched at 2023-03-14 with 325289 point Profit. (15%)
TP4 @ 28683.84 touched at 2023-03-22 with 668673 point Profit. (30%)
80189 (4%) + 225789 (10%) + 325289 (15%) + 668673 (30%) = 1299940 point (59%)

Open Profit:
Profit for one BUY trade is 27469(current price) - 21997.11(open price) = 547189 point (25%)
10 trade(s) still open, therefore total profit for open trade(s) is 547189 (25%) x 10 = 5471890 point (250%)

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.

DateMarch 25, 2023 - 11:13
Currentrange bound
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 15476.00, continuation of uptrend is expected.
  • We make sure when the resistance at 32399.00 breaks.
  • If the support at 15476.00 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 19549.10 on 03/10/2023, so more gains to resistance(s) 28683.84 and maximum to Major Resistance (32399.00) 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 63.

Take Profits:

  1. 22799.00
  2. 24255.00
  3. 25250.00
  4. 28683.84
  5. 32399.00
  6. 34625.00
  7. 37385.00
  8. 42500.00
  9. 48189.85
  10. 51770.00
  11. 60220.00
  12. 64755.00
  13. 69000.00
Click on the level to view price action history.

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