ForecastCity
Long

BTCUSD , Bitcoin would probably resume its uptrend again.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN/DOLLAR
Midterm forecast:
  • While the price is above the support 6000.00, resumption of uptrend is expected.
  • We make sure when the resistance at 11600.00 breaks.
  • If the support at 6000.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 6000.00 is broken.

    Trading suggestion:
    Price is in the Buy Zone (6930 to 6000), we would set orders based on Price Action and expect to reach short-term targets.

  • Beginning of entry zone (6930)
  • Ending of entry zone (6000)

    Entry signal:
    Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words,
    NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
    To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:

    Technical analysis:
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index ( RSI ) is 34.
Take Profits:
TP1= @ 7556.25
TP2= @ 8180.60
TP3= @ 9051.90
TP4= @ 9774.80
TP5= @ 11600.00
TP6= @ 12670.65
TP7= @ 15308.00
TP8= @ 17095.65
TP9= @ 19704.20
TP10= Free
Trade active: BTCUSD , weekly update: Total profit 2192392 in 22 days

Bitcoin/Dollar
Total Profit: 2192392 pip
Closed trade(s): 464120 pip Profit
Open trade(s): 1728272 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 6715.85 based on 'Hammer' entry method at 2018.04.01.

Closed Profit:
TP1 @ 7556.25 touched at 2018.04.12 with 84040 pip Profit.
TP2 @ 8180.60 touched at 2018.04.15 with 146475 pip Profit.
TP3 @ 9051.90 touched at 2018.04.24 with 233605 pip Profit.
84040 + 146475 + 233605 = 464120 pip

Open Profit:
Profit for one trade is 9184.81(current price) - 6715.85(open price) = 246896 pip
7 trade(s) still open, therefore total profit for open trade(s) is 246896 x 7 = 1728272 pip

Take Profits:
TP4= @ 9774.80
TP5= @ 11600.00
TP6= @ 12670.65
TP7= @ 15308.00
TP8= @ 17095.65
TP9= @ 19704.20
TP10= Free

Midterm forecast:
While the price is above the support 5460.00, resumption of uptrend is expected.
We make sure when the resistance at 9774.80 breaks.
If the support at 5460.00 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 66.
Trade active: A New Trading Opportunity!! TP3 hit with 1884035 profit .....!

BITCOIN/DOLLAR
Midterm forecast:
  • There is possibility of temporary retracement to suggested support line (8180.60), if so, traders can set orders based on Price Action and expect to reach short-term targets.
  • While the price is above the support 8180.60, resumption of uptrend is expected.
  • We make sure when the resistance at 9774.80 breaks.
  • If the support at 8180.60 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 8180.60 is broken.

    Technical analysis:
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 67.

Total Profit: 1884035 pip
Closed trade(s): 464120 pip Profit
Open trade(s): 1419915 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 6715.85 based on 'Hammer' entry method at 2018.04.01.

Closed Profit:
TP1 @ 7556.25 touched at 2018.04.12 with 84040 pip Profit.
TP2 @ 8180.60 touched at 2018.04.15 with 146475 pip Profit.
TP3 @ 9051.90 touched at 2018.04.24 with 233605 pip Profit.
84040 + 146475 + 233605 = 464120 pip

Open Profit:
Profit for one trade is 8744.30(current price) - 6715.85(open price) = 202845 pip
7 trade(s) still open, therefore total profit for open trade(s) is 202845 x 7 = 1419915 pip

Take Profits:
TP4= @ 9774.80
TP5= @ 11600.00
TP6= @ 12670.65
TP7= @ 15308.00
TP8= @ 17095.65
TP9= @ 19704.20
TP10= Free
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+1 Reply
ForecastCity firaszahde
Reply
do u have telegram channel ?
Reply
@javadth, No sir. you can follow us on twitter or join our site
Reply
javadth ForecastCity
@ForecastCity, please open a telegram announcement channel and send updated TAs link there , then we can find updates faster

this is telegram : https://telegram.org/
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Does the candle on 4/1 count as a hammer reversal even though it is a weak hammer?
Reply
So do you have an estimated timeline for the reversal? I'm really worried at these facts to factor:

1. Volume is almost completely gone
2. Every single TA advises the "bulls" are awaiting for a 4.2k-3k zone to buy back in
3. 2014 fractal theory apparently expects at least 6 more months before recovery to +15k levels

I'm fairly distant to this -which is quite easy to detect considering my limited knowledge on the market terminology and considering the fact that I'm still trying to recover from an entry point in 15k unfortunately- hence asking your views as you seem to be like the only technical advisor expecting a quick market recovery.
Reply
+1 Reply
@Rombit, It's much better to explain a bit about your idea
Reply
Rombit ForecastCity
@ForecastCity, ok, I made an update with explanation.
+1 Reply
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