ForecastCity_ME

BTCUSD Update: Profit=340900 SL=78800 Reward/Risk > 4.3:1

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Trade Setup summary:

Profit targets=340900 pip (28000 + 56500 + 91400 + 165000)
Stop Loss =78800 pip
Reward/Risk > 4.3 : 1

Current Status:

Total Profit: 111758 pip
Closed trade(s): 38558 pip Profit
Open trade(s): 73200 pip Profit

Trade Setup:
We opened 5 BUY trade(s) @ 11367.21 based on 'previous Forecast' at 2020.07.31 :

Closed Profit:
TP1 @ 11420.0 touched at 2020.08. 01 with 5279 pip Profit.
TP2 @ 11700.0 touched at 2020.08. 01 with 33279 pip Profit.
5279 + 33279 = 38558

Open Profit:
Profit for one trade is 11611.21(current price) - 11367.21(open price) = 24400 pip
3 trade(s) still open, therefore total profit for open trade(s) is 24400 x 3 = 73200 pip
Break Even 11223.00

Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 69.

New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (11420.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP2= @ 11700.0
TP3= @ 11985.0
TP4= @ 12334.0
TP5= @ 13070.0

❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!

❤️ Your Support is very much 🙏 appreciated!❤️

💎 Want us to help you become a better Forex trader?

Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.

Trade well, ❤️
ForecastCity English Support Team ❤️

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.