Long Term Update: weekly chart

XBTUSD is basically flat and my support/resistance price levels are unchanged (currently $375-$430) although price tends slightly lower after a failed attempt to break above $420 last week.

BTCUSD Weekly

This is the same template i proposed in the last update with just a shorter period used for the average and its deviation lines. The Osma indicator is still slightly weak, also the 2 months VWAP is at $405 and flat.

In this situation the best strategy, for a short term trader, is to trade the deviation lines without relying too much on timing indicators or in simple words just buy the supports and sell the resistances.

I was expecting a stronger up swing but XBTUSD entered a sideways movement that to end requires a breakout somewhere above $430 or below $375. I’m reading many bitcoin traders analysis, most of them bearish because of the block size issue but at the moment i prefer to remain neutral about it.

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