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Weekly forecast Santiment / BIT technical chart
Symbol SANBIT

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Trading suggestion:

Price is in the Trend Hunter Buy Zone (25.44385 to 21.19950).

While the price is below the level 34.55, 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 34.55 and expect to reach short-term targets.

  • Beginning of entry zone (25.44385)
    • Support on 06/06/2019
    • Support on 10/18/2019
    • Support on 12/20/2019
    • Support on 12/21/2019
    • Support on 12/22/2019
    • Support on 12/23/2019
    • Support on 12/24/2019
    • Support on 12/25/2019
    • Support on 12/26/2019
    • Support on 12/27/2019
    • Support on 12/28/2019
    • Support on 12/30/2019
    • Support on 01/01/2020
    • Support on 01/02/2020
    • Support on 01/03/2020
    • Support on 01/04/2020
    • Support on 01/05/2020
    • Support on 01/06/2020
    • Resistance on 01/12/2020
    • Resistance on 01/13/2020
    • Resistance on 01/14/2020
  • Ending of entry zone (21.19950)
    • Support on 06/06/2019
    • Support on 10/18/2019

DateJanuary 16, 2020 - 23:03
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 54.68600 would begin in Midterm.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 46.25905 on 2019-08-09 and the trough at 33.8527 on 2019-09-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 22.65000 on 01/08/2020, so more gains to resistance(s) 25.44385, 34.55000, 46.25900 and maximum to Major Resistance (54.68600) 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 46.

Take Profits:

  1. 46.25900
  2. 54.68600
  3. 82.50000
  4. 105.25000
  5. 139.50640
  6. 212.69075
  7. 271.78375
  8. 331.37600
  9. 522.99580
Click on the level to view price action history.

Symbol Released Current Forecast
Santiment / BIT (SANBIT) Sun, 29 Aug 2021
Santiment / BIT (SANBIT) Sat, 21 Aug 2021
Santiment / BIT (SANBIT) Mon, 16 Aug 2021
Santiment / BIT (SANBIT) Sat, 7 Aug 2021
Santiment / BIT (SANBIT) Sat, 31 Jul 2021