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Weekly forecast OmiseGO / BIT technical chart
Symbol OMGBIT

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Trade Setup
#OMGBIT
Total Profit: 2850835 pip
Closed trade(s): 2850835 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 12 BUY trade(s) @ 98.39165 based on 'Valley' entry method at 2020.01.17.

Closed Profit:
TP1 @ 126.90000 touched at 2020.02.13 with 2850835 pip Profit.

11 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 (87.15000 to 79.10000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 96.5, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 96.5 and expect to reach short-term targets.

  • Beginning of entry zone (87.15000)
    • Support on 09/24/2019
    • Support on 10/26/2019
    • Support on 12/17/2019
    • Support on 12/18/2019
    • Support on 12/19/2019
    • Support on 12/20/2019
    • Resistance on 12/28/2019
    • Resistance on 12/29/2019
    • Resistance on 12/30/2019
    • Resistance on 01/02/2020
    • Resistance on 01/05/2020
    • Support on 01/17/2020
    • Support on 01/20/2020
    • Support on 01/24/2020
    • Support on 01/29/2020
  • Ending of entry zone (79.10000)
    • Support on 01/08/2020
    • Support on 01/11/2020
    • Trough on 01/14/2020
    • Support on 01/14/2020

DateMarch 11, 2020 - 20:29
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 79.07865, beginning of uptrend is expected.
  • We make sure when the resistance at 142.07355 breaks.
  • If the support at 79.07865 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 142.25000 on 02/15/2020, so more losses to support(s) 87.15000, 79.10000 and minimum to Major Support (79.07865) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 37.

Take Profits:

  1. 109.79765
  2. 142.07355
  3. 174.30000
  4. 219.10000
  5. 303.85000
  6. 499.25000
  7. 683.50000
  8. 887.00000
  9. 1138.50000
  10. 1387.50000
  11. 1739.90000
  12. 2319.50000
Click on the level to view price action history.

Symbol Released Current Forecast
OmiseGO / BIT (OMGBIT) Sun, 20 Mar 2022
OmiseGO / BIT (OMGBIT) Tue, 15 Mar 2022
OmiseGO / BIT (OMGBIT) Mon, 7 Mar 2022
OmiseGO / BIT (OMGBIT) Sun, 27 Feb 2022
OmiseGO / BIT (OMGBIT) Sun, 20 Feb 2022