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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

Download MT4 template file

Trade Setup

#BTCUSD
Total Profit: 1363464 pip
Closed trade(s): 153884 pip Profit
Open trade(s): 1209580 pip Profit

Trade Setup:
We opened 12 BUY trade(s) @ 6118.08 based on 'Hammer' entry method at 2018.08.14.

Closed Profit:
TP1 @ 6700.00 touched at 2018.08.22 with 58192 pip Profit.
TP2 @ 7075.00 touched at 2018.08.28 with 95692 pip Profit.
58192 + 95692 = 153884 pip

Open Profit:
Profit for one trade is 7327.66(current price) - 6118.08(open price) = 120958 pip
10 trade(s) still open, therefore total profit for open trade(s) is 120958 x 10 = 1209580 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.

DateTue, 09/04/2018 - 17:54
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 4966.90, resumption of uptrend is expected.
  • We make sure when the resistance at 8200.00 breaks.
  • If the support at 4966.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 50 is broken, so the probability of resumption of uptrend is increased.
  • While the RSI support #2 at 50 is not broken, the probability of price decrease would be too low.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 65.

Take Profits:

  1. 6700.00
  2. 7075.00
  3. 7682.60
  4. 8200.00
  5. 8800.00
  6. 9800.00
  7. 11600.00
  8. 12700.00
  9. 14350.00
  10. 17095.65
  11. 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