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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup

#BTCUSD
Total Profit: 1653023 pip
Closed trade(s): 770015 pip Profit
Open trade(s): 883008 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.
TP3 @ 9051.90 touched at 2018.04.24 with 233605 pip Profit.
TP4 @ 9774.80 touched at 2018.05.05 with 305895 pip Profit.
84040 + 146475 + 233605 + 305895 = 770015 pip

Open Profit:
Profit for one trade is 8187.53(current price) - 6715.85(open price) = 147168 pip
6 trade(s) still open, therefore total profit for open trade(s) is 147168 x 6 = 883008 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 7556.25 is broken, we will close open trades.

DateWed, 05/16/2018 - 16:59
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 7556.25, resumption of uptrend is expected.
  • We make sure when the resistance at 9774.80 breaks.
  • If the support at 7556.25 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 7556.25 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 41.

Take Profits:

  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
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) new Mon, 15 Oct 2018
Bitcoin (BTCUSD) Wed, 10 Oct 2018
Bitcoin (BTCUSD) Wed, 3 Oct 2018
Bitcoin (BTCUSD) free Tue, 4 Sep 2018
Bitcoin (BTCUSD) free Mon, 20 Aug 2018