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Weekly forecast OmiseGO / BIT technical chart
Symbol OMGBIT

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Trade Setup
#OMGBIT
Total Profit: 10454485 pip (121%)
Closed trade(s): 3070621 pip Profit (37%)
Open trade(s): 7383864 pip Profit (84%)

Trade Setup:
We opened 14 BUY trade(s) @ 83.29827 based on 'Hammer' entry method at 2021.01.03.

Closed Profit:
TP1 @ 92.21845 touched at 2021.01.04 with 892018 pip Profit (11%).
TP2 @ 105.08430 touched at 2021.01.04 with 2178603 pip Profit (26%).
892018 (11%) + 2178603 (26%) = 3070621 pip (37%)

Open Profit:
Profit for one trade is 89.45149(current price) - 83.29827(open price) = 615322 pip (7%)
12 trade(s) still open, therefore total profit for open trade(s) is 615322 (7%) x 12 = 7383864 pip (84%)

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.

DateJanuary 9, 2021 - 16:24
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 70.39250, beginning of uptrend is expected.
  • We make sure when the resistance at 174.30000 breaks.
  • If the support at 70.39250 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 16 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 118.40000 on 01/04/2021, so more losses to support(s) 75.85645 and minimum to Major Support (70.39250) 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 36.

Take Profits:

  1. 92.21845
  2. 105.08430
  3. 135.97025
  4. 174.30000
  5. 219.10000
  6. 303.85000
  7. 499.25000
  8. 683.50000
  9. 887.00000
  10. 1138.50000
  11. 1387.50000
  12. 1739.90000
  13. 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