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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup

#BTCUSD
Total Profit: 1441851 pip
Closed trade(s): 230515 pip Profit
Open trade(s): 1211336 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 6715.85 based on 'Hammer' entry method at 2018.04.01.

Closed Profit:
TP1 @ 7556.25 touched at 2018.04.12 with 84040 pip Profit.
TP2 @ 8180.60 touched at 2018.04.15 with 146475 pip Profit.
84040 + 146475 = 230515 pip

Open Profit:
Profit for one trade is 8230.02(current price) - 6715.85(open price) = 151417 pip
8 trade(s) still open, therefore total profit for open trade(s) is 151417 x 8 = 1211336 pip

DateSun, 04/15/2018 - 12:14
Currentrange bound
Forecastresumption of uptrend
Last weekBullish
Open6924.52
High8126.66 on Fri, 04/13/2018 - 09:30
Low6518.10 on Mon, 04/09/2018 - 17:00
Close7788.53

Midterm forecast:

  • While the price is above the support 5460.00, resumption of uptrend is expected.
  • We make sure when the resistance at 9774.80 breaks.
  • If the support at 5460.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 58.

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, the description can also be found below the image.

Take Profits: Click on the level to view price action history.

  1. 7556.25
  2. 8180.60
  3. 9051.90
  4. 9774.80
  5. 11600.00
  6. 12670.65
  7. 15308.00
  8. 17095.65
  9. 19704.20

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Bitcoin (BTCUSD) Mon, 19 Mar 2018