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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (21351.05 to 19549.10). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (21351.05)
  • Ending of entry zone (19549.10)

DateSeptember 24, 2023 - 10:16
Currentrange bound
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 24800.00, continuation of uptrend is expected.
  • We make sure when the resistance at 31786.21 breaks.
  • If the support at 24800.00 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 27483.55 on 09/19/2023, so more losses to support(s) 25250.00 and minimum to Major Support (24800.00) 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 50.

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) new Tue, 12 Nov 2024
Bitcoin (BTCUSD) Tue, 5 Nov 2024
Bitcoin (BTCUSD) Fri, 25 Oct 2024
Bitcoin (BTCUSD) Sun, 20 Oct 2024
Bitcoin (BTCUSD) Sun, 13 Oct 2024