ForecastCity
Long

BTCUSD , weekly update: Total profit 1160611 in 11 days

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Total Profit: 1160611 pip
Closed trade(s): 84040 pip Profit
Open trade(s): 1076571 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.

Open Profit:
Profit for one trade is 7912.04(current price) - 6715.85(open price) = 119619 pip
9 trade(s) still open, therefore total profit for open trade(s) is 119619 x 9 = 1076571 pip

Take Profits:
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

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.

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 54.

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thanks for the update, do you think this is a trend reversal or maybe just another spike rally?
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