ForecastCity
Long

Great Long-Term Hunting Opportunity in BTCUSD!!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 8363.05 would begin in Midterm.
Price may also reach 8363.05, if price reaches this level, we may enter by Daily-Trading-Opportunities (Price Action).

Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (9180.05 to 7773.55), if so, we would set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets.

  • Beginning of entry zone (9180.05)
  • Ending of entry zone (7773.55)

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.

Take Profits:
TP1= @ 10688.25
TP2= @ 11599.50
TP3= @ 12670.65
TP4= @ 15308.00
TP5= @ 17095.65
TP6= @ 19704.20
TP7= @ Free
Comment: Midterm forecast

Midterm forecast:
. While the price is above the support 8410.20, resumption of uptrend is expected.
. We make sure when the resistance at 11600.00 breaks.
. If the support at 8410.20 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (9180.05 to 7773.55), if so, we would set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets.

. Beginning of entry zone (9180.05)
. Ending of entry zone (7773.55)

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 56.

Take Profits:
TP1= @ 10688.25
TP2= @ 11599.50
TP3= @ 12670.65
TP4= @ 15308.00
TP5= @ 17095.65
TP6= @ 19704.20
TP7= @ Free

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I just sold. All the big players I know say it's going down to 4k either this month or next.
+1 Reply
@samiswilf, Thanks for sharing. While technically there are supports ahead for downtrend, the drop would not be as that fast.
+1 Reply
Do we buy now or wait.
+1 Reply
@Ginossim, I'm afraid, we don't suggest trading activity, our idea is a mid-term uptrend above $8300 with the specified targets on the chart.
+1 Reply
Thanks for your time. Will be following you
+1 Reply
So you believe we will nog go trough the resistance line, and take a small dip? Correct?

Isn't there a possibility, it wil go through the resistance and will grow further?
+1 Reply
@Rubberen, Yeah, we expect a small pullback.
+2 Reply
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