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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup

#BTCUSD
Total Profit: 1233719 pip
Closed trade(s): 770015 pip Profit
Open trade(s): 463704 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 7488.69(current price) - 6715.85(open price) = 77284 pip
6 trade(s) still open, therefore total profit for open trade(s) is 77284 x 6 = 463704 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.

DateFri, 06/08/2018 - 12:07
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 6000.00 would begin in Midterm.

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 43.

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.

Symbol Released Current Forecast
Bitcoin (BTCUSD) new Wed, 15 Aug 2018
Bitcoin (BTCUSD) Tue, 24 Jul 2018
Bitcoin (BTCUSD) Tue, 17 Jul 2018
Bitcoin (BTCUSD) Sat, 30 Jun 2018
Bitcoin (BTCUSD) free Fri, 8 Jun 2018