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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup

#BTCUSD
Total Profit: 1181981 pip
Closed trade(s): 770015 pip Profit
Open trade(s): 411966 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 7402.46(current price) - 6715.85(open price) = 68661 pip
6 trade(s) still open, therefore total profit for open trade(s) is 68661 x 6 = 411966 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.

DateMay 30, 2018 - 07:31
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 6000.00, resumption of uptrend is expected.
  • We make sure when the resistance at 9774.80 breaks.
  • If the support at 6000.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 30 is not broken, the probability of price decrease would be too low.
  • The RSI downtrend #2 is broken, so the probability of resumption of uptrend is increased.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Take Profits:

  1. 7556.25
  2. 8180.60
  3. 9051.90
  4. 9774.80
  5. 11600.00
  6. 12750.00
  7. 15308.00
  8. 17095.65
  9. 19704.20
Click on the level to view price action history.

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