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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup

#BTCUSD
Total Profit: 632880 pip
Closed trade(s): 632880 pip Profit
Open trade(s): 0 pip Profit

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

Closed Profit:
TP1 @ 6974.35 touched at 2018.04.02 with 25850 pip Profit.
TP2 @ 7682.60 touched at 2018.04.12 with 96675 pip Profit.
TP3 @ 8760.45 touched at 2018.04.20 with 204460 pip Profit.
TP4 @ 9774.80 touched at 2018.05.05 with 305895 pip Profit.
25850 + 96675 + 204460 + 305895 = 632880 pip

6 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (6000.00 to 5460.00). 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 (6000.00)
    • Resistance on 10/23/2017
    • Resistance on 10/26/2017
    • Resistance on 10/27/2017
    • Support on 02/06/2018
    • Support on 06/13/2018
    • Support on 06/24/2018
    • Support on 06/25/2018
  • Ending of entry zone (5460.00)
    • Support on 10/15/2017
    • Support on 10/18/2017
    • Support on 10/24/2017
    • Support on 10/25/2017
    • Support on 11/12/2017

DateSat, 06/30/2018 - 15:25
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • The RSI bounced from the support #1 at 26 and it prevented price from more losses.
  • 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 44.

Take Profits:

  1. 6415.00
  2. 6974.35
  3. 7682.60
  4. 8760.45
  5. 9774.80
  6. 11600.00
  7. 12700.00
  8. 14350.00
  9. 17095.65
  10. 19704.20
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) free Tue, 4 Sep 2018
Bitcoin (BTCUSD) free Mon, 20 Aug 2018
Bitcoin (BTCUSD) Wed, 15 Aug 2018
Bitcoin (BTCUSD) Tue, 24 Jul 2018
Bitcoin (BTCUSD) Tue, 17 Jul 2018