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Trend Hunter performance since 2015 for this symbol

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Weekly forecast Bitcoin technical chart
Symbol BTCUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (3489.35 to 3140.00). 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 (3489.35)
    • Support on 09/17/2017
    • Support on 09/22/2017
    • Support on 11/25/2018
    • Support on 12/18/2018
    • Support on 01/13/2019
    • Support on 01/14/2019
  • Ending of entry zone (3140.00)
    • Support on 09/15/2017
    • Support on 12/14/2018
    • Support on 12/15/2018

DateThu, 01/17/2019 - 16:17
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 2900.00, resumption of uptrend is expected.
  • We make sure when the resistance at 6094.35 breaks.
  • If the support at 2900.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the trough at 3503.25 on 2018-11-25 and the trough at 3132.2 on 2018-12-15, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
  • While the RSI resistance #1 at 56 is not broken, the probability of price increase would be too low.
  • 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. 4189.00
  2. 4409.80
  3. 5245.00
  4. 5700.00
  5. 6094.35
  6. 8200.00
  7. 9455.00
  8. 11400.00
  9. 13375.00
  10. 19704.20
Click on the level to view price action history.

Symbol Released Current Forecast
Bitcoin (BTCUSD) free Wed, 7 Aug 2019
Bitcoin (BTCUSD) free Sun, 28 Jul 2019
Bitcoin (BTCUSD) Sat, 20 Jul 2019
Bitcoin (BTCUSD) free Sat, 13 Jul 2019
Bitcoin (BTCUSD) Sat, 6 Jul 2019